Ace Hardware to Move into the Securities Building Downtown

If you live in and around downtown, you’ll be thankful to hear that the city is finally getting a downtown hardware store. The Myers Group announced that they will be opening an Ace Hardware in the Securities building on 4th and Stewart in the first quarter of 2013. The store will be spread across 7,500 sf of retail space, catering to the ever growing population of city dwellers as well as businesses, creating a convenient place to grab your essentials such as hammers, fasteners and tools on the fly.

The Myers Group has said they’ve been looking for the right location for years, and they’re pleased a hardware store will now be able to assist the downtown population.  “The location adjacent to Bed, Bath & Beyond is a very complimentary fit for a hardware store and the Myers Group and Clise Properties were equally eager to make the terms of the lease work,” said Tom Graff, president of commercial at Ewing & Clark, who leased the space to the Myers Group. “When Richard Stevenson came to me to seek a quality retailer of the space, Tyler Myers was one of my first calls. His store will be a tremendous asset to the area and satisfy a steady request from downtown residential focus groups.” For more information and updates about the space, visit the Puget Sound Business Journal.

Art Institute of Seattle Building Sold

According to the Puget Sound Business Journal, The Art Institute of Seattle Building on 2323 Elliot Ave has been purchased by a company affiliated with Unico Properties. The Art Institute was actually the seller in the transaction, and the building sold for just under $15.88 Million; a step up from the $11.5 million the property was purchased for in 1998.

Photo Courtesy of the Seattle Art Institute

There has not been discussion of what this means for the Institute, which was founded back in 1946, and offers an array of creative degrees from culinary to advertising and web design. For follow up information involving the building’s use, visit the Puget Sound Business Journal.

Mars Hill Plans to Move Out of Belltown

You’ve most likely seen a Mars Hill Church somewhere  in the greater Seattle area, as it’s one of the biggest, and fasted growing churches around the Pacific Northwest. They’re continually outgrowing their current Belltown location, in the building that previously hosted Tabella’s night club, and have settled on a decision to move into downtown, in the First United Methodist Church, on 5th ave and Marion Street.

Mars Hill current Belltown location, Photo courtesy of Marshill.com

The building has previously served as the Daniel’s Recital Hall, offering free concerts to the community, and according to the Seattle Times, will still offer concerts that don’t conflict with Mars Hill activities. Apparently the deal for the new location almost didn’t happen. Tom Graff of Ewing & Clark Inc said “Mars Hill looked at the First United Methodist Church building a year ago but Daniels didn’t want to sell or completely relinquish control.” Graff also mentioned he had the lead pastor and Kevin Daniels (developer, and gentleman responsible for saving the historic building in 2007) get together in person, and they came to an agreement on a 5 year lease. For more information on the move, visit the Seattle Times.

City Target Opens Today Downtown

As many of you already know from walking by the corner of pike and 2nd avenue, Target has been moving into downtown Seattle. There has been some debate on whether the discounted retail store will be good or bad for small business owners downtown, or if it will help clean up the neighborhood’s drug problem; but that. The new Urban City Target opened it’s doors today at 7am, and shoppers may be a little surprised by what they find inside the 3 story retail store.

According to the Seattle Times, the City Target, which is 2/3 the size of an average target store is now carrying smaller sized items, like 8lb bags of dog food instead of the larger 20lb bags, and 8-12 rolled toilet paper packs instead of 24. The City Target has more of an urban feel as well, showcasing clothing displayed on mannequins, escalators lead you up and down the 3 floors of retail, and it felt like they had at least 1 sales person for every 5 people in the store. They’re everywhere! Th City stores are popping up in other cities such as Chicago and San Francisco. According to the Times, they chose Seattle as one of the first cities to start because of the influx of new downtown housing, as well as the tourism/number of office workers in and around the city during the day. For more information on the store’s opening, visit the Seattle Times.

Eitel Building Could Become Boutique Hotel

Word has been going around that the historic Eitel Building might have plans to become a boutique hotel. According to the Seattle Times, the folks at Ariel Development have signed a contract to buy the 108 year old building, located on second and pike street. The sale should be closing by the end of the year, and when it does they plan on converting the office space into an 80 room hotel. The location would be ideal for a hotel, right in the heart of downtown, and within close walking distance to the retail shopping downtown.

Eitel Building Location

Ariel has been a part of several of downtown Seattle Hotel projects, including the Courtyard Marriott, and new Hyatt Place Hotel and towers. The Eitel currently has retail tenants in the lower level, but the upstairs floors have been vacant for sometime. The building was designated a historic landmark in 2006, and the previous owner had been trying to redevelop for years with little success because of disputes with the historic preservation advocates. For the Full scoop on the building’s future, visit the Seattle Times.

Holland Development Plans Huge High Rise on 9th & Pine

If you’ve always dreamed of living in the highest high rise apartment building in Seattle you’re in luck…. Holland Development is planning the construction for your new humble abode right now! According to a report today in the Seattle Daily Journal of Commerce,  Holland is preparing to start construction on what will soon be noted as Seattle’s tallest apartment tower. The building will sit on the Southwest corner of 9th & Pine just West of the Paramount Theater and will stand nearly 40 feet taller than the nearby Aspira building. The building is planned to be 440 feet tall, with 386 units and 269 parking stalls. While this might seem like a hefty project for Holland Development by itself, they also have 6 other projects in the works and will be responsible for putting 1,400 new apartment units downtown. For more information on the project please visit the Daily Journal of Commerce.