Developers: Proposed 43-story tower means big profits for Seattle

Developers: Proposed 43-story tower means big profits for Seattle
A proposed 43-story development would replace a full block of the Denny Triangle with 1,500 hotel rooms and 150,000 square feet of convention space. (Courtesy of Seattle Department of Planning and Development)

SEATTLE -- Nearly 100 conventions couldn't be held in Seattle last year because of a lack of capacity and available dates, costing the city more than $273 million in lost revenue, according to Tom Norwalk, President and CEO of Visit Seattle.

However, a new 500-foot-tall development proposed for 807 Stewart St. could change all that.

Developer R.C. Hedreen Co. is seeking approval from the city to build a 43-story tower on a full block of the Denny Triangle, bringing 1,500 hotel rooms and 150,000 square feet of meeting and ballroom space to the neighborhood.

If approved, the development would be Seattle's largest hotel and one of the largest convention hotels on the West Coast when it opens in 2017, according to Hedreen, which is behind Olive 8, the Seattle Hilton and other downtown developments.

According to Hedreen, the development would be second only to the nearby Washington State Convention Center in terms of event capacity and would make it easier for that facility to be renovated in the future.

In addition to the hotel and convention space, the development would include 150 units of affordable housing, which would be rent controlled for the next 50 years.

“We are excited to see the proposed mix of uses for the Ninth and Stewart block,” Denny Triangle Neighborhood Association Chair Howard Anderson said in a press release. “The connection to the retail core and future convention expansion -- along with the infusion of workforce housing -- will translate to creating the vibrancy and activity that we all want in downtown.”

The building, which still needs design and environmental approval from the city, would replace the downtown Seattle Greyhound station, which is relocating this fall, plus a parking lot and two smaller buildings.

LMN Architects is not currently releasing any designs for the project.

But, Seattle residents will get their first look at it -- and their first chance to comment on it -- during a public design meeting from 5:30 p.m. to 8:30 p.m. April 16 at City Hall.

Residents can also send comments on the project to PRC@seattle.gov through April 16.