Just a couple of years after receiving approval for its 44-story project in Seattle’s Belltown neighborhood, Vulcan has sold off the project site to a new developer. According to King County public records, the site of the 5th & Lenora project has been sold to AMLI Residential for $39.7 million.
Located at 423 Lenora Street, the property consists of a less than one-acre vacant corner lot fronting both Lenora and 5th Streets. The property is situated in the southeast portion of Belltown near Amazon’s headquarters. The property is also near several stops on the city’s light rail and just a short drive from Interstate 5.
In 2018, Vulcan received approval from the city’s design review board for the project, according to previous reporting from The Registry. However, since then, not a lot of progress has been made at the site. At the time of the meeting, the project team – which includes architecture firm Ankrom Moisan and landscape architect Site Workshop – showed plans for a 44-story tower with 3,300 square feet of street-level commercial space, a rooftop amenity area and 315 below-ground parking stalls.
It is currently unclear as to whether or not AMLI Residential will continue with the proposed plans. However, the Seattle-based development firm has been developing residential buildings in and around the city since 1980.
The company currently owns several properties in Seattle, including AMLI Wallingford, a 231-unit apartment building at 1850 N. 34th Street; AMLI Arc, a 393-unit building at 1800 Boren Avenue; the 293-unit AMLI South Lake Union at 1260 Republican Street; and several others.