Hedreen Floats Another Hotel Plan

SEATTLE-RC Hedreen Co. is floating another hotel plan. The local developer recently announced plans for a Downtown 33-story hotel and condominium tower near the Elliott, a 29-story, 450-room hotel it completed in 2000 in conjunction with the expansion of the convention center. Plans for its project, slated for Eighth Avenue and Olive Way, call for approximately 170 condominiums atop a 343-room upscale hotel.The project is currently going through preliminary design review with the city. Neither an operator nor a lender has been announced and a formal application has not yet been filed with the city. A Hedreen executive did not return repeated phone calls seeking comment. In its announcement, the company says it hopes to break ground on the 600,000-sf development in mid-2005 and open the property in 2007. Seattle native Richard Hedreen has developed four hotels in town, the Elliott (Grand Hyatt), the Seattle Hilton Hotel, the Holiday Inn Crowne Plaza Hotel and the Madison Renaissance Hotel. His team for this latest proposal currently includes Mulvanny G2 Architecture as the schematic design architect; Zena Design Group as interior designer; KPFF as structural engineer; and WA Botting as mechanical engineer. Williams Marketing has been hired to manage the marketing and sales of the condominium units. Plans call for the hotel to occupy 16 floors and include a 10,000-sf spa and fitness center, with a pool, exercise equipment and weight rooms. The hotel would also offer 20,000 sf of meeting and event space. The building also would feature a restaurant, bar and four floors of underground parking. Condominium owners will have a private entrance and full access to all of the hotel’s services, including housekeeping, room service, concierge, valet parking and the pool, spa and fitness center. A price range for the condominiums has not yet been determined.In 2000, Hedreen envisioned the development as a 32-story building with ground-floor retail, 20 floors of office and then 11 floors of residential units, either apartments or condominiums. Jensen/Fey Architecture & Planning of Seattle was the designer and the project was estimated at between $45 million and $50 million. Hedreen has not said how much the latest iteration would cost.