SEATTLE-Vulcan Inc., the property arm of billionaire Paul Allen, is preparing for the second phase of the University of Washington’s research South Lake Union research campus. Construction of the two-building, 280,000-sf phase will start in May 2006 and take about two years to complete.

The 100,000-sf first phase, a renovated Washington Natural Gas building at 9th Avenue North and Mercer Street, was completed and occupied last year, three years after the lease deal was originally struck. The original deal included an option for this second phase.

The two new buildings will be located on the south and west portions of the same block that holds the University’s existing leasehold. In addition to 9th Avenue and Mercer Street, the borders are 8th Avenue North and Republican Street.

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