Bellevue, WA (October 26, 2016) – PCL Construction Services, Inc. has commenced construction on the 41-story high-rise in the Belltown area of Seattle formerly called the Potala Tower. The project is under new ownership, a joint venture partnership between a China-based real estate holding company and a Las Vegas-based real estate developer.
Binjiang Tower Corp., a wholly owned subsidiary of Hangzhou Binjiang Real Estate Group Co Ltd. (Binjiang Group), and PH Seattle Tower I LLC, an affiliate of The Molasky Group of Companies entered a joint venture agreement and will continue the original project as it was designed by Weber Thompson.
With a recommitment from the previous investors, and under the new ownership, approximately 150 people will ultimately be working on this mixed-use tower to build its 339 apartment units, 142 hotel rooms, 1,824 square feet of retail space and 177 underground parking spaces. The property is located at 2116 4th Avenue next to the landmark Cinerama and just two blocks from where Amazon is building its headquarters.
“We’re excited to get our team back on site and forge ahead with this great project,” said Tom Doig, vice president and district manager of PCL. “PCL is happy to be contributing to the growth in the city’s core and to the vitality of the Belltown neighborhood.”
About PCL Construction
PCL is a group of independent construction companies that carries out work across the United States, Canada, the Caribbean, and in Australia. These diverse operations in the civil infrastructure, heavy industrial, and buildings markets are supported by a strategic presence in 31 major centers. Together, these companies have an annual construction volume of more than $8 billion, making PCL one of the largest contracting organizations in North America. Watch us build at PCL.com.