800 Alaskan Development Poised to Make a Splash for Seattle’s Waterfront Rejuvenation
Name the top-five global cities in the United States…
New York stands out. Chicago. San Francisco. Los Angeles. Washington D.C. These urban power centers are world-class destinations home to multinational corporations that employ decision-makers who shape the global economy. There’s a bustle. An original identity. A daily duet of grit and charm. And finally, all these cities offer access to a vibrant waterfront where people and businesses choose to gather. If you agree with the five cities listed above, you’re missing one very influential option: Seattle.
Seattle is on an incredible climb. Over the last 20 years the city has evolved from “grunge capital” to a major global tech-center. The next great leap will take place with the city’s upcoming waterfront rebirth. The demolition of the viaduct freeway opens up a brand-new front door to the city – a 26-block waterfront park framing the newly-minted Waterfront District. This brand-new neighborhood will be completed in 2023 and will feature a new 20-acre urban greenspace that will generate an estimated $288 million dollars in yearly economic impact. The revitalized neighborhood will add an additional 2,385 full-time jobs. The upgraded waterfront will feature a landscaped pedestrian promenade, public spaces for year-round events and protected bike lanes.
Seattle Waterfront District
The Seattle Waterfront District will feature both residential and commercial office space redevelopments, as well as new mixed-use space available for restaurants and retail. The new neighborhood is designed to become the city’s premier gathering space for lifestyle and economic activity. This new urban oasis will solidify Seattle’s global appeal to both visitors and businesses. But these elements alone are not enough to push Seattle into the top five global cities in the U.S. Functional and innovative real estate investment is required. Modern properties must be seductive inside and out. Buildings should elevate the status quo on an international scale.
800 Alaskan Designed to Rebrand Seattle’s Global Business Identity
Martin Selig Real Estate (MSRE) is a key player in Seattle’s waterfront district transformation. The local real estate development and property management company has 1.7 million square feet of office space in development, including 800 Alaskan, the stunning mixed-use commercial development located on the southern end of Seattle’s new waterfront park.
The new Seattle Waterfront District demands commercial property investments that align with the city’s long-term economic goals. The 800 Alaskan Development is the perfect example. The gorgeous 17-story building will supply downtown Seattle with the office space required to help power a world-class city. Available in Spring 2022, 800 Alaskan will enliven its vibrant location by delivering 300,000 square feet of Class-A office space, 25,000 square feet of retail space and 6+ residential floors. The building’s modern design and architecture will take advantage of breathtaking views, while offering functional, mixed-use office and retail space.
MSRE and architecture firm Perkins & Will designed 800 Alaskan to operate as a gateway to the Seattle waterfront district park. Street-level retail and a market hall will combine to encompass a full city block. The property’s design features are inspired by the diverse needs of the building’s tenants, while simultaneously supporting the needs of local residents and visitors alike. The glass atrium and external features take advantage of ample natural light and the unobstructed, dramatic views of Elliott Bay, which includes the deep-water Port of Seattle and the Olympic Mountains.
800 Alaskan’s future location is positioned directly across the street from the Colman Dock redevelopment project. At present, the state’s largest ferry terminal provides five million commuter trips a year to surrounding locations that support nine million passengers. The redeveloped terminal will increase capacity to support an anticipated 38 percent increase in the Seattle population and 30 percent increase in ridership by 2040.
As local and outside property investors clamor to secure space in Seattle’s new Waterfront District, MSRE has perfectly positioned itself as a key player at the center of one of the most pivotal moments in Seattle’s economic history with its strategic development of 800 Alaskan. The Waterfront District will be an accessible retreat, a hub for local businesses and visitors with 800 Alaskan at the center. The property is designed with functional beauty in mind, offering residents and businesses the space needed to get the most out of Seattle’s reinvigorated Waterfront District.
For those new to the Pacific Northwest, the Seattle narrative isn’t an underdog story – it’s a secret revealed. It’s time to start re-examining your top five list. Or risk arriving late to the party.
Need help with leasing options in Seattle? Contact leasing specialists at Martin Selig Real Estate.