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Vulcan Nears Approval of 6-Story Office Building

SEATTLE-The investment arm of billionaire Paul Allen is now waiting out a public comment period for a Master Use Permit on the project, which is adjacent but not part of Interurban Exchange, an adjacent multi-property development in the South lake Union area that Vulcan is developing with Schnitzer Northwest.

By Brian K. Miller | Updated on June 12, 2002

SEATTLE-Vulcan Inc. is closed to receiving its Master Use Permit for a six-story office building with ground-floor retail at 428 Westlake Ave. Underground parking for 125 is also part of the project.

The city gave its OK earlier this week and if not protests are received by June 24 the MUP should be issued by the end of the month. The only thing stopping them from breaking ground at that point is a building permit, strong preleasing and a construction loan.

A source at Vulcan tells GlobeSt.com that the company would like to break ground this year. The source also said the company had some tenants already committed to space, but that could not be independently confirmed by GlobeSt.com. There also was no word on whether the construction loan had been lined up.

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