A San Francisco hotel developer is looking to build a 50-story hotel and residential tower in downtown Seattle, according to The Seattle Times. A real-estate partnership controlled by Stanford Hotels Group paid $16.75 million last year to acquire a 12,960-square-foot tract at 1903 Fifth Ave.
Now, the group intends to seek permits for a tower consisting of a 284-room hotel, 90 apartments, 133 condominiums, street-level retail and parking for about 200 cars, according to papers filed earlier this month, and as reported by The Seattle Times.
Stanford Hotels is scheduled to meet with the city’s design-review board on Dec. 16 to receive feedback on the proposal.
The company is also planning a 15-story hotel in South Lake Union. The proposed site is across the street from The Westin Seattle and within a short walk is the 229-room Warwick Seattle and the 160-room Mayflower Park Hotel.
But any new hotel is more likely to compete with other new hotels, said John Gordon, a senior vice president at commercial real-estate brokerage Kidder Mathews.
There reportedly are many hotels proposed or under construction in downtown Seattle, which this year is on track to set new records for hotel occupancy and room rates, The Seattle Times writes.