Federal Reserve Building Solution? Put a High-Rise On it

Portland likes to "put a bird on it." Seattle likes to put a skyscraper on it. That's the plan from Martin Selig Real Estate, who won ownership of the old Federal Reserve Building at 1015 Second Avenue following a public auction with a $16M bid in February. Instead of tearing down the four-story structure, Selig plans to build a 29-story tower right on top of it. Separating the old from the new would be a three-story winter garden with open space for people to walk around. Above that, the tower would rise to 470 feet and contain 533,000 square feet of office space. The big issue? The old Fed is on the National Register of Historic Places and they'll also have to get approval from Seattle's Landmarks Preservation Board. The roof of the building isn't considered historic, hence the ability to plan for alterations there. Selig also said that he has already rented out the space inside the original structure but is not saying who it is yet. Selig, along with architect Perkins + Will, contractor Lease Crutcher Lewis and structural engineer KPFF Consulting are hoping to begin construction in mid-2016.

· Selig wants a tower, winter garden on former Federal Reserve building [DJC]
· High-rise may top historic low-rise: old Federal Reserve Building [ST]
· Martin Selig Now Owns Seattle's Old Federal Reserve Building [CS]