DOWNTOWN—Drilling officially gets underway Thursday on the long-awaited Fifth + Columbia tower. The 45-story complex will include a 175,000 square foot hotel and offices, amongst other things. Construction on the $400M building was delayed following the collapse of WaMu, which left a void in downtown office tenants. [PSBJ]
CAPITOL HILL—Hollywood Lofts, a new condo project by Barrientos, is currently under construction at 127 Broadway East in Seattle. Maintaining the shell and many historic features, the building will incorporate 24 modern loft-style units. The project is scheduled for completion in 2014. [BBH]
DOWNTOWN—Plans to turn the six-story, 90,000 square-foot Federal Reserve Building into a school moved one step closer when U.S. officials turned down an application to turn it into a homeless shelter. Seattle Public Schools now has until July 3 to submit an application and relieve some of their space issues. [PSBJ]