Recognize this site?
It is 2nd and Virginia in Downtown Seattle. It sounds like it may become the next location for a new Seattle condo project – breaking ground as early as this summer. The Developer, Claudio Guincher of Continental Properties recently purchased the site for $16,000,000. His previous projects include the Cosmopolitan, Vik in Ballard and the Metropolitan Tower (apartments).
Some believe the site will be another apartment project, but we believe when it breaks ground this summer that it will likely be condo.
The current zoning would allow for a 400 foot residential tower with 324 units. It’s neighbor to the North, Cristalla, has 24 floors, 197 units and 240 feet of height. You can see from the photo below (c/o weberthompson) that if the project was built, maximizing the current zoning, the south side of Cristalla would be significantly impacted (One Pacific Tower as well). We’ve also heard that the project could be scaled back – likely a pro-forma decision.
We will continue to keep you posted.
View Future Developments – View Changes In South Lake Union & Denny Triangle in a larger map