Interurban Exchange Projects Obtaining Permits

SEATTLE-Schnitzer Northwest LLC has one Master Use Permit sewn up and a second just two weeks away as it prepares to develop a handful of buildings all located on Terry Avenue, between Mercer and Harrison streets in the South Lake Union area located north of the Downtown core. The project is being developed in a joint venture with Vulcan Inc., the investment arm of local billionaire Paul Allen.

Initially dubbed Terry Avenue Technology Court, the 500,000-sf, five-building project has been renamed Interurban Exchange on the advice of a professional branding firm, Schnitzer Investment Manager Suzie Morris tells GlobeSt.com. Four of the five buildings will be new construction and between four and five stories high. The fifth is an existing structure called the Van Vorst Building. It will most likely be renovated for use as a tenant amenity center. Pacific Real Estate Partners has won the leasing assignment.