Vulcan has acquired the final parcel of land for their proposed 44-story residential tower at 5th Avenue and Lenora Street in Seattle’s Belltown neighborhood. Through an LLC, Vulcan purchased the former Nara Grill property at 2025 5th Avenue for $4.6 million. The sellers, Fifth Avenue LLC, previously purchased the property in 2008 for $856,600.
Last year, Vulcan spent $22.8 million on three properties on both sides of the Nara Grill. Those properties were owned by Diamond Parking and members of the Diamond family. In total, Vulcan has spent about $27.4 million for the 19,434 square foot site on the southwest corner of Fifth Avenue and Lenora Street.
Current plans call for a 44-story residential tower featuring 458 units, 6 levels of below grade parking for 300 vehicles and 3,700 square feet of retail space. It also includes plans for indoor and outdoor amenities, which includes the rooftop. The building will have views of the Space Needle, Lake Union, downtown, Elliott Bay and the Olympic Mountains. The project totals at about half a million square feet.
Vulcan has applied for a master use permit where the project will include demolition of existing buildings. Vulcan’s Fifth and Lenora team includes Ankrom Moisan Architects; PCL Construction, general contractor; and Site Workshop, landscape architect.