SEATTLE—Equity Residential has proposed a 39-story apartment high-rise with 400 apartment units for downtown Seattle.

Equity is applying for land-use and construction permits to build at the northeast corner of Second Avenue and Pine Street, according to the Puget Sound Business Journal. Currently the parcel is a surface parking lot.

Equity wants to include 2,700 square feet of ground-floor commercial space, four levels of underground parking and four levels of above-grade parking.

Weber Thompson, a Seattle architecture firm, is listed on city records as the designer of the project.

Chicago-based Equity, the largest publicly traded apartment owner in the country, bought the site last summer for $22 million from Starwood Capital Group.

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