April 7, 2017

Intracorp considering 348 units in the International District

Owned by the Polack family for over six decades, the Acme Poultry property at 1029 S. Jackson St. could soon see a big change of use from chicken and eggs. Intracorp will brief the International Special Review District board next week on a possible redevelopment scheme.

Early plans filed with the city by Intracorp and architect Tiscareno Associates describe a mid-rise apartment building with 348 units, 140 parking spaces below grade and 15,000 square feet of retail.

Current zoning allows structures between 65 and 85 feet in height. HALA bonuses might apply. Total project size would be about 274,000 square feet.

The 1.17-acre site is located between 10th and 12th Avenues South. It extends through the block to South King Street. The property is currently occupied by old Acme warehouses and related structures, with some space apparently leased to other businesses. All those structures would be removed.

The Acme Poultry property has not yet sold. Azose Commercial Properties has the listing for the property, which it describes as “the largest contiguous block that has been offered in the International District in recent years.” Azose confirmed the property is under contract.

Azose lists smaller nearby ID properties in a range between $225 and $280 per square foot. At 51,000 square feet, the main Acme Poultry property could be worth around $14 million. (South across King, Azose is also offering a separate 12,000-square-foot property owned by the Polocks for $2.7 million.)

Aided in part by the new streetcar line along Jackson, which connects Pioneer Square and Capitol Hill, the once-sleepy ID is seeing significant new development activity. The Publix brought 125 units to 504 Fifth Ave. S. Inland Group has its permits for 249 units at 913 S. Jackson. And Stream Real Estate is underway on 160 units at 101 Sixth Ave. S.

But the biggest project is directly north of the Acme Poultry site, at 1032 S. Jackson. There, Chinn Investments is proposing a redevelopment of its Asian Plaza property. That would include 280 units, a 180-room hotel, community theater, child care center and 45,700 square feet of restaurant and retail space. It would have underground parking for 487 vehicles. No permits have yet been issued for that project, which has its second early design guidance meeting on May 24.

For the Acme Poultry site, Tiscareno will present the potential redevelopment plan to the ISRD board at 6 p.m. Tuesday, April 11 at the Bush Hotel, 409 Maynard Ave. S.

Acme Poultry, founded in 1928 by Ukrainian immigrants Morris and Jack Polack, is in its third generation of ownership.

Calls to Intracorp were not returned.