Gregory Broderick Smith Real Estate
Principal: Greg Smith
Specialty: Real estate development
Year founded: 2003
Headquarters: Seattle
Smith |
“My biggest success (in the last year) has been the instigator of trying to create urban density for the city, and getting the mayor on board to promote urban density,” said Greg Smith.
Smith has his hopes set on creating density in south downtown, around Pioneer Square. The vision stems from the 1998 Pioneer Square Neighborhood Plan, adopted by Seattle City Council. It includes the Alaskan Way Viaduct replacement, monorail, street car routes, and relocation of the ferry terminal for auto ferry boats.
The vision also identifies 16 buildings in the Pioneer Square Historic District as candidates for rehabilitation.
Smith hopes to convert 80,000 square feet in three adjoining warehouse-type structures along First Avenue immediately south of Safeco Field. He envisions stadium-oriented entertainment and retail outlets on ground floors topped with small amounts of office. The development could be an ESPN Zone sports restaurant and bar, and Smith might call it Atlantic Row.
Smith this year left his family firm of Martin Smith Inc. to form his own company.
Directing his attention north, Smith also wants to develop a mixed-use project at Second and Pike, where there is currently a parking lot. He wants a boutique hotel and condo project at the corner, and has hired Hewitt Architects for preliminary design. He thinks the development will improve the Pike corridor, leading to the Pike Place Market. “Between Second and Third on Pike a bridge has been broken — this will be the connection,” he predicted.
One of Smith’s big sales in 2003 was the sale of the Millennium Tower offices. “I really have become substantially removed from the office market now,” he said. He said housing and parking lots are more his focus. And revitalizing south downtown, of course. “I’m spending my energies on revitalizing downtown and getting more energy into the city,” said Smith. “The major way is through housing and upzoning — based on the success in San Diego, the Pearl District and Vancouver. It improves tourism and creates jobs.”