X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-Lorig Associates has submitted revised plans for its redevelopment of the Welch Hardware property at 23rd Avenues and S. Jackson Street.

Instead of about 100 housing units and 61,000-sf of office space as originally planned, the project will now be largely residential, with 158 units of housing and 18,000-sf of ground-floor commercial space.

Lorig Senior Project Manager Joan Weiser tells GlobeSt.com the changes were market driven. The revised project — the original design was ready for building permit pick-up — goes to design review next week. About 8,000-sf of the commercial space has been leased to a bank, a day care provider and others. Weiser says she hopes to start construction June 2002.

Half of the property has been leased long-term from the Welch family. The other half is owned by the city and still remains to be transferred into Lorig’s ownership, says Weiser, who doesn’t expect financing to be a problem. “We had commitments previously, but with the changes, until we get design review approval, we are not ready to go back out,” says Weiser.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.