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  Real Estate

Brian Miller
Real Estate Reporter
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January 11, 2018

On the Block: U District parking barons to lease their lots for high-rise towers

Even before the new owner of the Hotel Deca recently subdivided its north parking lot to make way for a planned residential tower, all the parking lots in the University District were in play. That much was guaranteed back in 1996, when voters approved the initial Sound Transit light rail line — which in 2021 will finally connect North Seattle, from Northgate to the U District, to downtown and points beyond.

Though the Great Recession slowed potential U District redevelopment plans, the economy came roaring back, and the city upzoned the U District early last year. Near the central intersection of Northeast 45th Street and University Way Northeast, aka The Ave, some buildings could reach 320 feet. (The Ave itself is awaiting separate city council consideration, with a possible vote in August, and a 75-foot limit proposed.)

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