We're looking south from the 9th floor of the neighboring condo at the footprint of a 272-unit building that was torn down six years ago: the McGuire. That half block in Belltown, along 2nd between Vine and Wall streets, there was some talk of turning into a sort of park for food trucks; never happened. Instead, the property has remained fenced and empty, awaiting a buyer.
And that buyer has now appeared. As reported by Mark Stiles at the Puget Sound Business Journal, it's Avalon Bay Communities, and they're proposing a 24-story, 320-unit apartment building, to replace the original 25-story structure.
Named for a hero of the Carpenters Union, the McGuire was developed by Harbor Properties as a joint venture with the union's Local 131. But along the way, the contractor, McCarthy Construction, failed to properly seal off the ends of the cables used to pre-stress the concrete flooring. Nobody noticed, though, and after several years of exposure to the Puget Sound's moist weather, the cables corroded and the floors began spackling. The City ordered everyone out, lawsuits were filed in all directions, and in the end there was not only a settlement but a demolition, the first-ever for a high-rise in Seattle.
Avalon built a high-rise in Bellevue about a decade ago; studios there now rent for over $1,700, one-bedrooms are in the mid-$2,000 range, and two-bedroom units set you back over $3,000 a month. That would be stiff, even for Belltown. We'll see.
Previous stories:
April, 2012, demolition is complete:
May, 2011, demolition begins
March, 2011, how it will be done
November, 2010, the decision to demolish
November, 2010, still no firm decision ...
April, 2010, "Is Belltown Crumbling?"
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