Today Antioch's property at 2326 Sixth Ave., is next to where Amazon.com (Nasdaq: AMZN) is building a huge, four-block campus, and the appraised value of the university's Seattle real estate is now $19.4 million.
A 40-story tower can be built on the three-quarters of an acre, so when the property is sold, perhaps as soon as later this spring, it very likely will go for considerably more than the appraised value.
This is now 2300 6th, and the mix has changed to 1,016 apartments, 20,000 sf retail, and 627 parking spaces.
This has to be in the top 3 in terms of apartment count? 1,016 is a lot of units. Which of course is great being near Amazon. Ideal place to live in the future if the residents work around the area.
HB to sell BB6 high-rise project in what will be a $60M transaction
Quote:
HB Management has sold an interest in BB6, two high-rise residential towers it plans at 2300-2326 Sixth Ave., for $31.25 million, according to King County records.
The sale was recorded Monday. On Tuesday, HB told Puget Sound Business Journal that it was selling the BB6 project to an unnamed Canadian apartment developer.
HB originally acquired the half-block Denny Triangle site in two 2015 transactions. It bought the larger north portion from Antioch University for $26.5 million, and bought the smaller south portion, a parking lot, from a family trust for $3.9 million.
Last fall, HB divided the block into two essentially equal halves via a boundary line adjustment.
The $31 million sale was an 89 percent share of the north parcel — meaning about 45 percent of the entire site.
BB6 received its land-use permit last November, and has applied for other phased permits. Plans show a party wall between the north and south towers (and their podiums and garages), making them potentially separate properties.
BB6 previously ran into tower-separation issues with Clise Properties, which is planning two 40-story residential towers at 2301 Seventh Ave., called Block V. Each project would occupy half of the block bounded by Sixth, Seventh and Bell and Battery streets.
BB6 would be on the west side, and Block V would be on the east side.
Clise was the first to get a master use permit — in April of last year — and HB was forced to narrow its towers to meet the city's requirement for a 60-foot separation from Clise's towers across the alley.
1. Due to a zoning change they've added four floors. It'll now be more like 45 and something a little under the 484' limit (440' zone, plus 10% for amenitites/architecture/mechanical/etc.).
2. A couple weeks ago it got a shoring permit, which would allow the start of construction.
That said, there's no sign of activity yet. The existing building hasn't started apparent demo. Some equipment nearby might be related to utility work, which could be a good sign.
By the way, a similar 2x484 residential and office complex is planned across the alley, and appears to be approaching its shoring permit as well. The two projects combined would have something like 1,550(?) residential units and 300,000 square feet of offices. This might be Seattle's busiest residential block in a few years.
4 stories added to twin-tower project in Denny Triangle https://www.djc.com/news/re/12123167.html
Canada-based Concord Pacific has been announced as a development partner for the project, its first in the U.S.