Friday, October 7, 2011

Pioneer Square, Seattle's Technology Hub, is Booming

Big lease transactions, substantial investment sales, and shovels in the ground!  The list of recent activity in Pioneer Square goes on and on.  Its a clear toast to this unique area's future, and it reaffirms a fundamental trend: Pioneer Square is the place to be. 

One of Urban Visions' development projects in the pipeline is located in the heart of Pioneer Square @  200 Occidental.  At 130' tall, this mixed-use development will add 130,000 SF of Class A+ office, 72 market rate housing units, ground floor retail spilling out onto Occidental Park, and space that could one day house a trolley maintenance facility.  We plan to announce more information soon so watch for that in the news.  Below is a project rendering, as well as a summary of recent articles highlighting exciting activity in the area. 

Rendering of 200 Occidental looking North East

 Below is a summary of recent articles highlighting the area's latest developments...

1)  Tech companies lead 'renaissance' in Seattle's Pioneer Square 

“In a world where every little competitive edge is going to help you recruit an employee — especially from some of those larger firms — I think all of that in Pioneer Square puts us a step ahead of other competing organizations that aren’t in Pioneer Square.”

2)  HTC look's to expand in Seattle's Pioneer Square, but space is limited

 Taiwanese smartphone company HTC Corp. is looking to expand its footprint in Seattle’s Pioneer Square area....The company is thought to be looking for about 50,000 square feet

3)  Ground Breaking on North Lot begins new era in Pioneer Square

Over the next decade, the development is projected to generate more than $727 million in economic activity.

4)  Groundbreaking on North Lot begins new era for Pioneer Square

“We’re on the cusp of the greatest economic recovery for Pioneer Square since Gold Rush days..."

5)  Land sale sets stage for big Pioneer Square project

The developers plan to break ground this week on the project's first phase — 444 apartments in 10- and 25-story towers, plus retail and parking.

6)  Pioneer Square has tech, needs tribe

"When you get down to it, Pioneer Square is the most beautiful neighborhood in the city, precisely because it’s so mismatched".  

7)  Pioneer Square Office Building's sell for $124.8 Million

The 505 1st Ave office building recently sold for a staggering $128 Million

8)  705 Union Sells for $38 Million

Leases for about 300,000 square feet of office space in the area [Pioneer Square] have been signed in the last four months. Among the new tenants are Cobalt, Isilon and Zulily.