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Old Posted May 8, 2014, 11:54 PM
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chris08876 chris08876 is offline
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
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SEATTLE | Rainier Square Redevelopment | 795 FT | 50 FLOORS

On Thursday, the UW Board of Regents Finance and Asset Management Committee took up two 80-year ground leases and a pre-development agreement with Wright Runstad & Co. to erect a new 1.15-million-square-foot mixed-use project on the Rainier Square block, around the existing Rainier Tower, which would remain.

"The completed development will be an asset for the University and for the city as a whole," according to a UW staff memo. "It will bring vibrant density with at-street destination retail activity, highly desirable residential and hotel units, and world-class office space. Located at the heart of the city and supported by multiple transportation options, this iconic development will enhance and sustain the value of the Metropolitan Tract as well as the surrounding center of the downtown commercial core."

The proposed project consists of a 50-story (795-foot) tower containing 750,000 square feet of offices, 182 apartments and 30,000 square feet of retail space; a connected 15-story, 198-room, luxury hotel; and a 1,200-space parking garage.
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