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September 23, 2015

4th & Columbia tower could be 101 stories

Photo by Benjamin Minnick [enlarge]

A Miami-based developer just updated its proposal for a mixed-use tower at Fourth and Columbia, and it's a biggie: 101 stories of housing, office, retail and a hotel.

Crescent Heights Inspirational Living is planning the project at 701 Fourth Ave. and recently updated its plans with the city. The latest filing shows 1,200 residential units, 167,150 square feet of office and retail space, 150 hotel rooms and 750 parking spaces.

This photo shows one of two parking garages now on the site.

The earlier plan called for a 1.2 million-square-foot complex with 840 residential units, 160,000 square feet of office, 30,000 square feet of retail and 400 parking stalls.

LMN Architects is designing the project.

Notes from a Sept. 9 meeting with the city indicate that Crescent Heights would like to begin construction in 2017.

Last week, Crescent Heights paid $48.75 million, or $1,707 per square foot for the half block. The seller is the Costacos family.

Crescent Heights entered the Seattle market a year ago when it bought four parcels in the Denny Triangle for $18.5 million, or approximately $660 per square foot.

The firm has proposed two 39-story apartment towers on the site at 1901 Minor Ave.




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