Search
 

Lake Union Company Plans $40M Redevelopment

SEATTLE-A local company is planning a major mixed-use redevelopment of its Lake Union property that will include condominiums, townhouses, a marina for large yachts and office space.

By Brian K. Miller | Updated on September 16, 2005

SEATTLE-Ward’s Cove, a privately held local company, is planning a major mixed-use redevelopment of its Lake Union property that will include 12 houseboat moorings, a 14-slip marina for big yachts, renovated office space and 21 luxury townhouses. The company hopes to begin demolition and construction in early 2007 and complete the project by mid-2009.

The Ward’s Cove site runs on both sides of Fairview Avenue East, starting at East Hamlin Street and running north for about 1,000 feet. The project, currently in the permitting stage, calls for adding the houseboat moorings and the marina and renovating two office buildings that are on the waterside of the property and developing the townhouses on the uplands side across Fairview.

The company plans to sell the individual houseboat moorages and individual townhouses while retaining ownership of the property where the offices are located, which is adjacent to where the marina will be constructed. The townhouses will range in size from 1,700 sf to 2,700 sf and feature large view decks and Northwest architecture with wood, concrete and lots of glass. Access will be mainly from the alley behind, with private parking and individual elevators for each unit.

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.