SEATTLE-After more than two decades of restricted growth, the University of Washington will be allowed to lease an unlimited amount of space in the University District or anywhere in the city thanks to a 6-3 vote by the City Council on Monday.

Dating back to 1985, the UW was limited to leasing only 241,950 sf in an attempt to ease concerns about the university’s expansion into the neighboring community. Those space restrictions were expanded to 400,000 sf in 1991 and then to its current level of 550,000 sf in 1998. In deciding in favor of lifting the lid, the council noted its wishes that the UW concentrate 75% of its leasing efforts in the core University District area immediately west of the main campus. The UW’s leasing activities in the area will then be reviewed in five years to assess the number of new housing units created, the number of university jobs created and whether the UW has influenced the housing situation in the district.

“Lifting the lease lid sustains momentum on our jobs creation agenda,” said Mayor Gregory J. Nickels in a statement released after the council vote on Monday. “In the University District, we’re moving forward on implementing the neighborhood plan and meeting goals for transportation, public safety, economic development and community building. Citywide, we’re moving forward to create jobs, but there’s more to do.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.