425 Pontius South Lake Union Housing Development
Sector: Residential • Location: Seattle, Washington, United States
Source: The Business Journals
Ryan Companies purchased the 1980s-era 425 Pontius office building in Seattle's South Lake Union neighborhood for $13 million. The company plans to raze the brutalist-style office building and replace it with a seven-story, 199-unit multifamily apartment complex. The project will incorporate the existing on-site garage with 162 basement parking stalls to reduce construction costs. Ryan Companies a
- Status
- Prospective
- Sector
- Residential, Car parking, Commercial, Automotive
- Location
- Seattle, Washington, United States of America
- Updated
- 22 Jul 2026
- Source
- The Business Journals
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Project Information
Participants
Company |
Status
Original status | planned |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Ryan Companies purchased the 1980s-era 425 Pontius office building in Seattle's South Lake Union neighborhood for $13 million. The company plans to raze the brutalist-style office building and replace it with a seven-story, 199-unit multifamily apartment complex. The project will incorporate the existing on-site garage with 162 basement parking stalls to reduce construction costs. Ryan Companies acquired the property through a receiver process and applied for construction permits in November 2025, with an estimated project intake cost of $31.35 million. The project aims to accelerate housing delivery by utilizing recent City of Seattle legislation to forgo the design review process. |
Original sector | Built Sector |
Budget |
Location
Country | United States of America (USA) |
State | Washington |
City | Seattle |
Source
Source | The Business Journals |
URL |
More Details
Record type | Project |
Sector | Residential, Car parking, Commercial, Automotive |
Article published date | 2025-12-22 |
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