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Vulcan Planning 450,000-SF Project at Westlake & Denny

SEATTLE-Billionaire Paul Allen's real estate division reveals plans for dual-tower development here that will combine office, residential and retail uses and could be under way by year's end. It will sit across the street from "2200," a similarly sized mixed-use project by Vulcan and Milliken Urban Limited Partnership that is already under construction.

By Brian K. Miller | Updated on February 03, 2005

SEATTLE-Vulcan Inc., one of billionaire Paul Allen’s companies, is planning a 450,000-sf mixed-use development at the corner of Westlake Avenue and Denny Way. The two-tower development could be under construction by the end of the year if certain preleasing hurdles are cleared, a company source tells GlobeSt.com, adding that discussions are under way with several tenants but no leases have been signed.The project consists of a retail and office podium with separate office and residential towers above. Retail will occupy the first story, office space will be offered on the podium levels (floors 2-5) and the north tower (floors 6-11) and residential units will be in south tower (floors 6-18). All told, the project includes the 17,000 sf of retail, 302,200 sf of office space and 130,000 sf of residential space divided into 100 units.Vulcan is designing the development as a high performance “green” building that will feature more natural daylight than traditional buildings, energy and water saving fixtures and the use of environmentally sensitive building materials. Callison is the project architect and Sellen Construction is the general contractor. The decision to move forward with the project was based in part on the “strong interest we are seeing from prospective homebuyers, retailers and commercial users,” says Vulcan’s VP of real estate Ada Healey in a prepared statement.The development is bordered by Denny Way, 9th Avenue, Westlake Avenue North, Blanchard Street and Bell Street. It will sit across from “2200″, the 456,000-sf development by Vulcan and Milliken Urban Limited Partnership that features a Whole Foods Market, Pan Pacific Hotel and 261 condominiums. Completion of that project is slated for fall 2006.

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