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January 6, 2015
Vulcan Real Estate may be lining up another apartment complex in South Lake Union.
Early plans call for a two-building complex at 1255 Harrison St., on the full block bounded by Harrison, Thomas, Pontius and Minor.
It will have 420 apartments, 348 parking spaces and ground floor retail. The site is between Vulcan's Stack House and Alley24 complexes.
Vulcan's Real Estate Investment Strategy Director Lori Mason Curran said the project is in the early stages, and no construction start date has been set.
Runberg Architecture Group is designing the complex.
Vulcan is finishing three buildings in South Lake Union and preparing for the next wave of development. Vulcan will complete two 12-story buildings for Amazon.com, totaling about 634,000 square feet, in the second and fourth quarters of this year. In September, scientists will begin moving in to the new Allen Institute for Brain Science, a 271,000-square-foot building at 601 Westlake Ave. N.
Here is a look at some projects Vulcan is planning:
At 401 Eighth Ave. N.: a 24-story apartment tower with 294 units
At 520 Westlake Ave. N.: a 12-story, 322,000-square-foot office project
At 300 and 333 Eighth Ave. N.: two six-story office buildings, each with about 194,000 square feet
At the intersection of Westlake and Denny: a 41-story, 470-unit apartment tower; an 18-story, 400,000-square-foot office building; and two smaller retail structures
On three blocks between Mercer, Valley, Westlake and Fairview: a 16-story apartment tower is planned on each block and perhaps smaller office buildings. Mason Curran said plans for the three blocks are still coming together.
Vulcan has no construction start dates for any of these projects.
Mason Curran said Vulcan would “love to start a commercial building” if it can land tenants. Apartment projects will be market driven, and Vulcan is still deciding whether to build more apartments in this development cycle.
Vulcan is selling the housing it has built in South Lake Union and will reinvest the proceeds in new projects.
Last year Vulcan started marketing Alcyone Apartments, Borealis Apartments, Rollin Street Flats, Stack House and the residential portion of Alley24. Last year Vulcan sold The Martin, a 24-story tower at 2105 Fifth Ave., for $114 million and Alcyone, an eight-story, 161-unit building at 301 Minor Ave. N., for $61 million.