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Stanford Hotels Eyeing 50-Story Tower at Fifth & Stewart

Stanford Hotels paid $16.75M for a freaking parking lot back in September, setting off speculation that either the downtown property market was out of control or the hotel group had something big planned. Turns out...yeah, big plans. PSBJ is reporting that Stanford has filed plans with the city to build a 50-story, mixed-use hotel tower at Fifth and Stewart. The proposal calls for 225 residential units and 200 parking stalls on eight levels. The hotel would be about 30% of the 677K sq. ft. building with residences and parking taking the rest. Bellevue architecture firm MulvannyG2 is working on the design. Stanford is making a serious move in Seattle with this and another hotel project planned near Amazon's HQ.
· Hotelier eyes 50-story downtown Seattle project [PSBJ]
· Downtown Parking Lot Sells For $16.75M To Hotel Company [Curbed Seattle]