Historic Office Space Becoming Living Space

SEATTLE-The University of Washington Board of Regents has signed off on Unico Properties’ plan to turn a 93-year-old office and medical/dental building in the heart of Downtown into an apartment complex.

The 12-story, 93,500-sf Cobb Building at 1305 Fourth Ave. is one of several office and retail properties on the University’s 10-acre Metropolitan Tract, for which locally based Unico oversees development and operations as part of its 60-year ground lease with the University, which expires in 12 years. Unlike the other buildings, however, the Cobb Building’s pipes and electrical systems desperately need upgrading.

That situation is what prompted Unico to explore options for the property, which is listed on the National Register of Historic Places. The design and permitting process will begin in January 2004, with occupancy projected for spring 2006.