Five years ago, Daniels Real Estate and equity partner Stockbridge Capital Partners bought the quarter-block site at Fifth and Columbia with plans to build a 660 feet tower. Five years later, those plans are about to become a reality.
Via the Seattle Times comes word that the developers will now break ground on what will become the largest building built in Seattle in over 20 years.
The plans have changed slightly for the 43-story tower. New permits reveal plans for a luxury hotel from the 2nd to 15th floors. The developers say they are currently negotiating with a national hotel chain that isn't already in the Seattle market.
When completed, the tower will be 55 feet taller than the Space Needle and the fifth-tallest building in Seattle.
At a cost of $400 million, the skyscraper is expected to be completed in mid-2016.
· Fall start planned for 660-foot skyscraper in downtown Seattle [Seattle Times]