As the Daily Journal of Commerce recently reported, Security Properties has recently submitted pre-application materials to the Seattle Department of Construction and Inspection (SDCI) for the redevelopment of the Wedgwood Center, which includes the entire parcel that spans from the QFC to Homestreet Bank. Security Properties is a a multi-family residential developer and manager with a significant presence in Seattle and is currently developing a $193M residential tower in Belltown.
This is the very first step in what may be a long process before there is a detailed development concept. This process seeks initial feedback from the city on a “new mixed-use grocer, retail, and residential development at 8400 35th Ave NE in the Wedgwood neighborhood of Seattle, Washington. All of the existing buildings currently onthe site will be demolished.” The applications go on to describe the new development as a 340,000 SF structure which includes a new grocer, retail space(s), and 280 unit residential space above an 80,000 SF below-grade parking lot. The site plan submitted with the pre-application materials seems to indicate that there are two structures divided by mid-block parking access off 35th Ave NE.
Given that this is so early in the process, we would encourage everyone to take this initial draft with a big pinch of salt. There is still a lot of work that Security Properties and their design team will need to work through as the design concept goes through early design guidance from the city. No doubt there will be ample opportunity for the community to get involved as well. However, our understanding from speaking to the current owner is that the property has not yet been sold and the sale of the property is contingent upon Security Properties navigating successfully through their due-diligence process and overcoming other logistics.
As we have consistently said, this was very much a reality that we have been preparing for. The redevelopment of the Wedgwood Center was always inevitable at some point due to the economics of the site and the demand for housing in the city. (Note: This is a reality elsewhere along the 35th Ave NE business district as well.) Our message has also been consistent to the current property owner and all potential developers. The Wedgwood Community Council welcomes redevelopment in our business district which is consistent with the Future 35th Ave NE Plan (link to plan [read more about this plan here]). While it is not a formal neighborhood plan and adopted into the city’s comprehensive plan, the Future 35th Ave NE plan is a unique community-led plan which represents the clearest voice of our community for what it envisions for our neighborhood business district. The WCC wants to be acitve and constructive advocates for those who voluntarily and genuinly demonstrate adherence to the Future 35th Ave NE Plan.
Join us on Tuesday, July 5th, when we’ll no doubt discuss this at our WCC July board meeting.