One of the busiest areas of housing development near Capitol Hill and the Central District is being readied for a new 400-unit project born from a pandemic development bankruptcy.

Monday night, the Central Area Land Use Review Committee community group will discuss the development as part of its January meeting. “This project is important for the Central Area,” the group says. “It will be one of the largest projects in the Central Area and an addition to an area of 12th Avenue that has recently seen several large projects.”

The development will rise seven stories and neighbor the area’s historic Washington Hall venue. Permitting indicates plans for around 400 units and a massive 200-car underground parking garage. Street-level retail is also part of the plan.

The community group says the project involves the development of 13 separate parcels, with three separate land use zones — “NC-75 on the west near 12th Avenue, but then also NC-65 and LR3 to the east” and adds that four nearby single family-style homes near E Fir will not be part of the project.

The Puget Sound Business Journal covered the financial implosion behind the project. Portland developer T Property Investments acquired the properties last spring for a combined $17.5 million after the original developer flamed out on some $25.6 million in debt as the pandemic took hold. Hardy Development had been planning a similar but smaller project that had already passed through design review when the COVID-19 crisis struck.

Likely focused on market-rate housing, the new development is not yet scheduled but has begun the process for planning its early design guidance session.

You can learn more about being part of CA-LURC’s Monday night meeting here.

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