Congratulations Midby family and Lexas Companies, LLC (same developers of ESCALA)!
1200 Stewart is two 35-story towers above a 5-story podium, containing 340 residential units, 229,781 square feet hotel, 79,934 square foot indoor participant sports, 12,903 square feet child care center, 28,738 square feet private club, 26,738 retail, and 5,104 square feet of restaurant use. Parking for 940 vehicles will be provided below grade.
I’m not personally not sure about Midby’s choice to try yet another “private club” so soon, especially after his experience with Club Cielo. However, you can’t knock a guy for not letting that keep him down from doing what he wants to do. I remember Midby talking about this project even a year ago, which now reminds me of the special feature on Kill Bill when Quentin Terintino discussed coming up with the movie during the time they were filming Pulp Fiction. These are guys that just don’t stop dreaming big.
Being that it does however take a couple years for a project to even pop-up out of the dirt, what I wonder is if these guys are expecting there to be another Seattle condo boom anytime soon? But at the same time, what would companies/people like these do?
Stop building?
That would be like us just stopping to care about real estate! Maybe they’re thinking that it’s tough to believe that people are going to just stop buying homes, and that sooner or later current inventory will be bought up?
This is now the 2nd land use permit to have some sort of application process made in just the last couple of months. At the same time, I think it would be crazy for anybody to start shouting, “THE SKY IS BEING PUT BACK TOGETHER! THE SKY IS BEING PUT BACK TOGETHER!”
Both of these two mentioned would be in my personal Seattle 100 just because they do what they do.
This is a great beat Justin. It will be interesting to see if this site and 8th and Lenora get money raised to build. It’s probably not a matter of if, but when! Great post!
Midby seems to do what he wants, and know he’s been excited about it for sometime. Your post about that lot on 8th…that’s been a one in the works for sometime too. However, the project we’ve all referred to as Bellora II…haven’t heard about that one very much yet it was going through all of it’s permits I think in the fall?