5/20/2021 Seattle Daily Journal of Commerce

March 15, 2021

Major Pioneer Square redevelopment planned

By BRIAN MILLER
Real Estate Editor

Unico Properties, Lake Union Partners

and architect BuildingWork are
planning to renovate and add to what's
now known as the Korn Walker Block.
That's a half block in Pioneer Square,
anchored by the Korn Building at 119
Yesler Way, on the corner of
Occidental Avenue South.

The Pioneer Square Preservation

Board will review those plans again on
Wednesday, in a virtual meeting the
public can also view by web link. Most
of the buildings were originally
developed circa 1890, soon after the
Great Seattle Fire.
Rendering by BuildingWork [enlarge] [gallery]
The general outline is the same as last In this view, looking west, the additions and terraces are
summer's review, now with more shown above the existing Korn and Walker buildings.
polish and detail. With various new
additions, setbacks, new seismic
bracing and one demolition/replacement (the Casco Antiguo building), the project will yield about
70,000 square feet of offices. At grade, there will be about 18,000 square feet of shops and
restaurants.

In effect, the eight now separate buildings will become one, with most office floor plates having
about 22,000 square feet — plus about 5,800 square feet for the fifth-floor penthouse level. The
combined Korn Walker Block will top out at four and five stories, including the penthouse and
terraces.

No general contractor is indicated yet.

The team also includes Coughlin
Porter Lundeen, structural engineer;
KPFF, civil; and Goldsmith Land
Development Services, surveyor.

Much of the complex is empty, save for

the Saveway market and a temporary
office for Walsh Construction — which
is building the nearby Chief Seattle
Club supportive housing project. No
start date has been announced for the
Korn Walker project; nor is clear if
work would begin without any
tenant(s) signed. Brokers, if any, are
unknown.

Much of the basement space — once

home to Trinity Nightclub and Pioneer
Square Theater — will be reclaimed for
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5/20/2021 Seattle Daily Journal of Commerce

bike parking (with 92 stalls), exhibit

space and for the Merchants Cafe,
which will apparently return after
construction to its longtime home on
Yesler. The cafe claims 1890 as its
founding date; the Airbnb operation
above will not return.

Restoration is planned for all the

original masonry, much of which was
damaged by the 1949 earthquake that
also cause some of the south buildings,
on South Washington Street, to loose
their upper floors. In particular, the
Korn Building will have its ornate,
crown-like cornice restored over
Yesler.

Improvements to the alley, to the west,

will include some outdoor dining space
similar to what Casco Antiguo had
before the pandemic. Rooftop solar
panels are indicated, and the project
will target LEED Gold certification. It
also aims to be a zero carbon
development. The budget hasn't been
disclosed; Federal Historic Tax Credits
will be employed.

Unico owns the half block via its

Boutique Office Portfolio fund. There
are similar renovation plans in Pioneer
Square for its Grand Central Block and
the Washington Park Building — with
all or most of the same team members
also working on those.

Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.

Copyright 2021 Seattle Daily Journal of Commerce

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