There was a time when Wilshire Capital Partners considered putting a seven-story, mixed-use building up at 403 Dexter Avenue North. Then, they decided to dream big and propose a 25-story, mixed-use tower with 280 apartments. Now, per DJC they've decided to come back down, reducing their plan to an eight-story building with 91 apartments, roughly 50 below-grade parking spaces, and 3,000 square feet of commercial space.
So why the sudden downsizing? Wilshire isn't saying. According to one person with the Seattle Department of Construction and Inspections, the lack of approval on a proposed amendment to make it more economically feasible to build taller might have put the kibosh on their big dreams. There's also the possibility that this project and one at 401 Dexter owned by Kilroy could end up as some kind of joint partnership.
VIA Architecture is designing the tower but have yet to submit new renderings for the smaller building.
· Wilshire downsizing project at 403 Dexter [DJC]
· See What The 24-Story Tower at 403 Dexter Might Look Like [CS]