Kilroy Realty Corp. plans to change how Seattle businesses operate by providing a creative workspace that makes employees want to come to work. Kilroy announced that construction on their new downtown Seattle project at 333 Dexter Ave. North will begin this summer with occupancy expected in 2018.
The coveted property space is near some of the biggest businesses in the technology industry including retail giant Amazon.com, real estate databases Redfin and Zillow.com, and Microsoft among others. The location will most likely become home to more technology businesses.
This project comes in light of Seattle-Bellevue’s booming real estate market with nearly six million square feet of office space currently under construction and Q4 2015 office vacancies at 10.2 percent, a rate not seen since the years prior to the recession.
“WHAT 333 DEXTER IS NOT, IS TWO BLAND BUILDINGS PLANTED ON A BLOCK.”
Kilroy is looking to advantage of the opportunity to redevelop an entire city block to create a new style of work environment. “We are in the market every day here in Seattle, and we feel like we have a good sense for what types of environments people are looking for to do creative work”, said Mike Shields senior vice president of Kilroy’s Pacific Northwest region.
“What 333 Dexter is not, is two bland buildings planted on a block. Our project and design teams have focused intensely on designing a unique project and site that responds to what our tenants tell us they want,” said Shields.
Led by architectural firm Miller Hull Partnership, the project features two twelve-story buildings taking up an entire city block between Thomas Street and Harrison Street. The building will include 15,000 square feet of retail space, 582,000 of office space, and 10,800 square feet of free space to be used as a courtyard area. Five lower levels will be dedicated to 700 parking spaces. The project will total 600,000 square feet.
On the first floor, a unique bike-lock area and lounge will allow tenants to safely store their bikes and shower after biking to work. This addition comes as the city upgrades Dexter Avenue into a cycle track to accommodate bikers.
“Like in most major cities, the difference between a great location and a good one can be in a block or two”, said Shields. The project is surrounded by nearby restaurants, bars, public transportation, and Seattle’s Space Needle.
Shields describes the goal of creating an environment “connected to the community around it.” The city’s planning board and local organizations have responded, praising the inclusion of a bike area feature and a community designed art wall installation facing Harrison Street. The art wall will be designed and created by local art organizations using submissions from a student competition.