October 2, 2015

Residential high rise could go up across from Frye Museum

A residential tower could be built on a half block across the street from the Frye Art Museum on First Hill.

Frye Art Museum owns several parcels on the west side of Terry Ave. and is looking at redeveloping them, said David Buck, president of the museum's Board of Trustees. The museum picked a developer to work with on the project, Buck said, and a deal is being negotiated. He would not say who the developer is.

Westbank Projects Corp., a Vancouver B.C. firm founded by developer Ian Gillespie, is listed as the project owner on a site plan filed with the city. Preliminary plans filed this summer called for a 500,000-square-foot mixed-use building with 500 residential units and 450 underground parking stalls at 707 Terry Ave.

Permitting documents do not say how tall the project would be. Seattle's Department of Planning and Development shows the half block is zoned for high rise residential buildings.

Perkins + Will is listed as the architect on the project.

The project could encompass the entire half block along the west side of Terry between Columbia and Cherry streets, according to the site plan. The museum owns three of the four parcels, and Bloodworks Northwest owns the other one. Today surface parking lots cover the half block.

The museum contemplated redeveloping the half block for some time, and has talked with Bloodworks Northwest about the project. The museum made a list of developers to consider and eventually narrowed it down.

The project aims to raise the profile of the museum and spruce up the block.

“The museum has been a fixture on First Hill for a long time, but it's been fairly isolated,” Buck said. “We want to be more of a cultural anchor on First Hill.”

The project could include pedestrian improvements to Terry Avenue to make it a more inviting street. Permit documents indicate a park could be a part of the project as well as art elements and opportunities for events.

Westbank has been very active in Canada in recent years and has recently shown more interest in Seattle. Last year, Westbank responded to a request for qualifications from Sound Transit to develop housing around the future Capitol Hill light rail station. Gerding Edlen was ultimately chosen to do that project.

Earlier this week, an entity managed by Gillespie paid $52.8 million, or approximately $965 per square foot, for a block at 1200 Stewart St. in the Denny Triangle. Westbank recently unveiled plans to build two 38-story towers with 892 residential units above a two-story podium and underground parking for 970 vehicles on the block.

In 2007, Lexas Cos. came forward with a plan to develop two 36-story condo towers on the site. By 2009 that plan included a 250-room hotel. But the project was put on hold during the recession.