19 Feb It’s a tight squeeze in Belltown for this planned high-rise
February 19, 2021
This is the latest design of a Seattle tower that a company from Taiwan has been working on since acquiring the quarter-block property in 2015. Chainqui Development paid about $33.7 million for the property at Fifth Avenue and Virginia Street. The city has landmarked the two existing buildings. Further complicating the development is Seattle’s tower-spacing rules plus a tower plan by Vulcan Real Estate next door.
By Marc Stiles – Senior Staff Writer, Puget Sound Business Journal
A planned mixed-use tower in Seattle’s Belltown neighborhood is hemmed in on three sides.
The project by Chainqui Development of Taiwan is along a Fifth Avenue site lined by two landmarked buildings facing the monorail. To the west is the alley, and to the north is a proposed Vulcan Real Estate tower site.
Hanging over everything between is a city rule that regulates the allowable space between towers. Under Chainqui’s plan, there are 53 feet between its high-rise and Vulcan’s. It’s believed the tower spacing requirement here is 60 feet, though a Seattle Department of Construction and Inspections (SDCI) representative was not immediately available to confirm this.
See the full article at www.bizjournals.com