SPOKANE, Wash. – Land owned by Gonzaga University will be developed into a 17-story high-rise with more than 250 residential units in Seattle’s Waterfront neighborhood.
The 340,000 square-foot site developed by ALMI sits along Seattle’s Alaskan Way Viaduct, which will soon close for good before a new tunnel opens in three weeks, according to KREM’s Seattle sister station KING5.
“We are excited to couple our investment with the significant investments the city and state have made to remove the Alaskan Way Viaduct and reestablish the connection between the waterfront and Seattle’s central business district,” ALMI senior vice president of development Scott Koppelman said in a press release.
The property is a gift from philanthropist Myrtle E. Woldson, who died in 2014. Woldson, who had strong ties to the university, also donated $55 million for Gonzaga’s new performing arts center set to open sometime this year.
Administrators said Woldson's donation for the performing arts center is the largest they have ever received. There has been talk about the facility for years, but the money was not there until the donation from Woldson.
Gonzaga administrators said the performing arts center could eventually attract some big name performers to Spokane.
The project in Seattle will benefit Gonzaga’s endowment.
ALMI is entering into a long-term ground lease with Gonzaga to redevelop the site, according to the press release. Koppelman said ALMI is committed to “developing a property of the highest quality to help grow Gonzaga University’s endowment and the student scholarships it supports.”
“We celebrate Myrtle Woldson’s legacy by honoring her wish that the bequeathed properties be held by the University endowment in order to provide the highest and best use for the benefit of future students educated by Gonzaga University,” Gonzaga President Thayne McCulloh said. “Our agreement with AMLI to invest in the renaissance of Seattle’s historic waterfront guarantees scholarships will reach deserving students who choose to advance their education at Gonzaga.”
Construction is slated to begin in mid-to-late 2020 with a tentative completion date set for mid-to-late 2022, according to ALMI.
The property will have sustainable features, including highly-efficient HVAC systems, energy efficient lighting, water conserving plumbing systems and fixtures, sustainable landscape materials and improved pedestrian connections. It will also contribute approximately $2 million to Seattle’s Housing Affordability and Livability Agenda through the Mandatory Housing Affordability program.