Alcyone will feature studios, one- and two-bedroom apartments, and live/work lofts ranging from 542 to 944 sf. The building, which also will include 1,600-sf of ground-floor retail space, is a moderate market-rate apartment project (between 60% and 110% of Seattle's median household income), which is called for in the Cascade neighborhood plan.
"Housing is an important component of Vulcan's vision of South Lake Union, and we are delighted to launch our first residential project with Harbor Properties," says Ada Healey, vice president of real estate for Vulcan. "As more businesses, retailers and cultural organizations continue to gravitate to this area, it is likely that many Alcyone residents will both live and work in the same neighborhood."
The multifamily development is the latest in a series of projects Paul Allen, the former Microsoft millionaire behind Vulcan, has planned for the South Lake Union neighborhood. Vulcan representatives have said they hope the area between Seattle's downtown and Lake Union eventually will become a hub for biomedical and biotech companies that also includes mixed-use areas, like restaurants, multifamily homes and retail shops.
In addition to the multifamily development and the 428 Westlake office project, Vulcan Inc. intends to build a five-story biomedical research and retail building. The 112,000-square-foot building will be developed jointly by Allen's company, Vulcan Inc., and Seattle real-estate-development firm Harbor Properties. Seattle-based Alexander Commercial Real Estate will handle the leasing.
An environmentally-friendly development designed by Seattle-based GGLO architects, Alcyone has a street-level character that will mimic many of the East Coast's older urban neighborhoods. The building will feature multiple entries through private courtyards connected to at-grade units and live/work lofts. Alcyone units will have large windows with many apartments offering views of Seattle, Lake Union and the Seattle Center. In addition to 162 residences, Alcyone will feature a restaurant in the corner retail space, 164 underground parking stalls and various resident common areas.
Alcyone will utilize many other sustainable construction materials that promote a healthy and environmentally focused lifestyle. These include low-VOC paints — water-based paints containing lower levels of harmful emissions than petroleum-based surface coatings; carpeting made from recycled materials; environmentally friendly flooring; and "green" cabinet materials, among others. Building materials such as wood, steel, aluminum and cardboard will be recycled daily on the Alcyone site.
Harbor Properties will begin pre-leasing Alcyone in January 2004. Retail leasing is represented by Tom Graff with Ewing & Clark. Other project team members include Rushforth Construction Company, the general contractor; Skilling Ward Magnusson Barkshire, which will provide structural and civil engineering services; and landscape architects Hewitt Architects.
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