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Developer reveals plans for the Piecora’s building

How they did it up north -- Equity's Urbana building opened in Ballard this year

How they did it up north — Equity’s Urbana building opened in Ballard this year

Now that the last night of service has come and gone, what will replace the old Piecora’s building? The largest publicly traded owner of apartment buildings in the country has shared details with CHS of the first ever project it will build from the ground up in the high-demand Capitol Hill market.

“We buy and build,” a spokesperson for Equity Residential tells CHS about its $10.3 million purchase of the building and parking lot at 14th and Madison that is now slated to be demolished sometime in the next year. “We’re all over the Seattle market. It’s such a terrific long-term market for renters, were looking to expand our footprint there.”

The spokesperson tells CHS that Equity plans to develop a six-story, 140-unit mixed-use apartment building with hopes of starting construction late next year after the prerequisite rounds of permitting and design review. The new building will include some 3,700 square-feet of retail — room for a new pizza joint, perhaps — and will include underground parking. The goal is to have the project open for eager Capitol Hill renters by 2017, the spokesperson said.

The confirmation of Equity sticking to what it does best squashes a rumor that had been circulating about a possible hotel planned as part of a new development at the site.

The design of the building has not yet begun as Equity is still settling on an architect for the project. We looked here at the types of buildings the Equity Residential builds and holds in its vast portfolio. Situated on a rising slope along E Madison and overlooking the Broadway basin leading to First Hill, the building will fill a prominent corner on the street and will be just a block from the dramatic rise of the Bullitt Center, touted as the greenest commercial building on the planet.

While the new building will be the first project Equity constructs on Capitol Hill, it has purchased three others amid an increasingly lucrative rental market in the area.

“We very much like the Capitol Hill area,” the Equity spokesperson said. “We think it’s a strong submarket.”

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Diana
Diana
7 years ago

WOW! These are the guys responsible for the ugly place on the corner where the bowling alley used to be in Ballard. Awesome.

future generations of seattle, forgive us
future generations of seattle, forgive us
7 years ago

Good god, that building in Ballard is a monstrosity. We air our disgust time and time again as we drive by it. And it’s on that main drag for the rest of our lives…well most of us anyway.

Oh good, one of these eyesores for Capitol Hill too. Fudging lovely.

come on, future generations want to live in caves
come on, future generations want to live in caves
7 years ago

we really need more micro-housing. this is a perfect opportunity for one of those 200+ unit micro projects.

Transplant
Transplant
7 years ago

Japan laughs at our luxurious 150 sq ft mansions! They are lucky to have their cubby hole living areas be in the double digits!

Andy O)))
Andy O)))
7 years ago

Thank god someone is thinking of the rich people who are running out of places to live on Capitol Hill.

Karen
Karen
7 years ago

The strip mallification of Capitol Hill.

Anne Jacobs
Anne Jacobs
7 years ago

Mother of Pearl! That building is hideous! What a jumble of conflicting styles and confused surfaces.

scott
scott
7 years ago

It’s on the corner where Dennis was not the bowling alley. I think it will be a great improvement over whats there. Especially with a new priceless on ground floor. If you don’t like the new developments buy some old building on the hill and keep it run down. Rich people don’t live in aptments

Bear
Bear
7 years ago

I hope Old Country Buffet goes in on the corner where Piecorras was. It would be awesome if it was 24 hours since this town is lacking in all-night eaterys (Lost Lake sucks…poor service and attitude). Also, there’s no Subway in that area, so they could be another tenant. Oh, and another Starbucks.

Yup
Yup
7 years ago
Reply to  Bear

Though I assume that most of your post is sarcastic, I must chime in on a sincere note that the food and service at lost Lake does un-ironically really indeed suck.

scott
scott
7 years ago
Reply to  Yup

Agreed. Lost lake sucks

Jim98122x
Jim98122x
7 years ago
Reply to  jseattle

this broken record whining is supposed to be entertaining?

Mariajj
Mariajj
7 years ago

Barf! What an ugly piece of shit.

Franklin
Franklin
7 years ago

I like it. Fits in with the rest of the architectural character of Seattle. There’s always Paris.

o
o
7 years ago

The photoshop glow can’t even save it! Nice try, rendering.

Ryan on Summit
Ryan on Summit
7 years ago

At least it’s got a helipad.

calhoun
7 years ago

Some of you have missed that the picture is of a building in Ballard. We can always hope that the new building at the Piecora’s site will be much more attractive, but I’m not holding my breath.

Jim98122x
Jim98122x
7 years ago
Reply to  calhoun

“Reading is FUNdamental”.

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[…] UPDATE 4/17/14: Developer reveals plans for the Piecora’s building […]

OrderfromChaos
OrderfromChaos
7 years ago

A lot of the original submissions from architects and developers get shot down at Public Design Review Board meetings…

In trying to please everyone, they end up pleasing no one.

Shawn
Shawn
7 years ago

sad!! Greedy Equity Residential…I am sure they will make living on Capitol Hill nearly impossible for the common people!! It would be nice if people boycotted this company and didn’t rent from any of their places!! Most likely an impossible task given the rental market in Seattle…but a boy can dream!!

JTContinental
JTContinental
7 years ago

The building that is currently there, while home to a beloved pizza place, is pretty hideous and without any character, as well. IMO, anything they build will look better than a moldering, poorly maintained warehouse space, even if it looks like the rendering of the Ballard building in the above photo.

calhoun
7 years ago
Reply to  JTContinental

Well said!

Ryan98122
Ryan98122
7 years ago

The current building is pretty sad, but this style looks so dated. Look at the ugly buildings that house Madison Market and Trader Joes? Seems like a building happily suited in the suburbs. Not very urban at all.

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[…] The former location of the E Madison Taco Time sold earlier this month for $3.6 million, the Puget Sound Business Journal reported. The price tag might seem a bit of a bargain following the Piecora’s parcel going for $10.3 million. There, developers tell CHS they are planning a six-story, 140-unit mixed-use apartment building. […]

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[…] in new and old buildings, alike — and the prices for real estate primed for development weighing in at impressive levels but existing apartment buildings are a hot commodity for […]

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[…] Next Thursday morning will be an exciting one for restauranteurs starting their first businesses or looking to upgrade gear — and a bittersweet start to the day for fans of Piecora’s, the longtime Capitol Hill pizza joint that shuttered in April as its owners retired and sold the property to apartment developers. […]

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[…] April, Equity paid $10.3 million for the E Madison property Piecora’s called home for decades. Its interests previously […]

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[…] way. For comparison, the developer that purchased the Piecora’s property earlier this year paid $10.3 million for the land near 14th and […]

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[…] the 1325 E Madison building across the street from the former Piecora’s where a six-story development is […]

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[…] Madison pizza joint and other businesses in spring of 2013 for $10.3 million with plans to develop a six-story, 140-unit mixed-use apartment building on the land. To date, there are no demolition permit applications on file for the property nor any […]

Adam
Adam
6 years ago

I’ve called this neighborhood home for years–perhaps my favorite thing about it is that it’s such a strong submarket. I wonder when these guys stopped speaking human.

Time to get the hell out when right-wing corporate abominations like Equity and Alliance Residential are moving in. http://www.chicagotribune.com/business/breaking/chi-sam-zell-1-percent-20140206-story.html