Stadium Place West: Executive Summary
In partnership with the R.D. Merrill Company, Daniels Real Estate Co. is proposing the development of a mixed use, diversified income project on what has been commonly referred to as the “North Lot”. Currently owned by King County, the land is ideally located adjacent to the regional transit hub at King Street Station. Immediately north of CenturyLink Field (the home of the NFL Seahawks and MLS Sounders), the location is part of Seattle’s new entertainment district and will provide a mixture of rental housing for all levels of income.
The project encompasses a full city block at the corner of Occidental Avenue and King Street. The development plan will involve two phases commencing with the construction of the “Podium” or base that will cover the entire “super” block and will include 30 units of affordable housing, workforce and market rate housing, complimentary retail (18,600 sf) and 360 parking spaces for residents. Upon completion of the Podium, there will be three high-rise residential “building pads” available for future development. As a result of current market conditions, the current plan is to proceed immediately with the development of two of the building pads featuring different rental products for the market. The West Tower (“The Sims”) will include approximately 133 apartment units facing Occidental Street in a 100’ tower featuring SoHo type lofts. The Southeast Tower will include approximately 311 apartment units facing 2nd Avenue South in a 240’ tower focusing on Gen Y’ers. This building will feature many cutting edge sustainable features with multiple areas for residents to mingle and interact.
Phase 2 is proposed to be a 200’ residential tower (“The Bagley Wright”) facing Jackson Street that will be constructed (either as condos or apartments) when market conditions are appropriate. The theme of this building will be around Pacific Northwest emerging artists.
Located in Seattle’s oldest neighborhood, Pioneer Square has a vibrant entertainment district. The neighborhood has the city’s largest collection of art galleries and museums, and two large sports stadiums and an exhibition hall. Stadium Place is within the nation’s first certified historic district (Pioneer Square – Skid Row) with an amazing historic built environment unlike anywhere else in the city. Immediately adjacent to the regional transit hub at King Street Station, the project offers easy access to multiple modes of transit with it being free within the city’s downtown free ride zone. In addition, within a few short years, the neighborhood will once again be connected to Seattle’s waterfront for the first time in over 50 years with a beautiful landscape esplanade leading to a new waterfront park.