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October 16, 2020
Bosa Development has cleared an important final threshold before securing a master use permit for its planned 3rd & Cherry condominium tower at 601 Fourth Ave. The city on Thursday issued a SEPA determination of non-significance for the 58-story, full-block project, which was first announced in 2016.
Since then, the design by James K.M. Cheng Architects has passed through design review. Bosa, also of Vancouver, B.C., will build the project and has applied for phased construction permits. No start date has been announced, and no marketing for the projected 422 units has begun yet. A certain number of presales is generally considered necessary before undertaking such a costly project.
The 3rd & Cherry project isn't even listed on Bosa's website, or that of its architect. However, the developer has been busy in Bellevue, where a series of sales recently closed at the now completed One88 condominium. Bosa also has condo plans for two other sites it owns in downtown Bellevue, where Amazon has massive growth planned near the future light rail station.
That market may be more attractive than this side of the lake, where Bosa last year paid $16 million for the long-vacant pit also bounded by Third Avenue and Cherry and James streets. The pandemic has made that area particularly desolate in recent months.
The block, once called Civic Square, has been a vacant pit since the Public Safety Building was demolished in 2005.
Bosa will pay a $5.7 million Mandatory Housing Affordability fee for the project, which includes mostly underground parking for 509 vehicles and about 23,000 square feet of retail, commercial and restaurant space. As part of the city agreement, Bosa will construct a cascading 27,000-square-foot public plaza on the south side of the tower, leading to Third and its transit tunnel entrance.
Bosa's team includes Joseph Wong Design Associates of San Diego, architect of record; PFS Studio of Vancouver, B.C., landscape architect; Glotman Simpson of Vancouver, B.C., structural engineer; Rushing, MEP engineer; KPFF Consulting Engineers, civil; Ground Support, shoring; Bush Roed and Hitchings, surveyor; and Hart Crowser, geotechnical.
Brian Miller can be reached by email at firstname.lastname@example.org or by phone at (206) 219-6517.