Madison Centre

Madison Centre

Under construction in April 2016
Former names M5 Commerce Centre, 505 Madison
General information
Status Topped-out
Type Office
Location 910 5th Avenue, Seattle, Washington 98104
Coordinates 47°36′23″N 122°19′53″W / 47.606468°N 122.331282°W / 47.606468; -122.331282Coordinates: 47°36′23″N 122°19′53″W / 47.606468°N 122.331282°W / 47.606468; -122.331282
Construction started September 2014
Estimated completion 2017
Cost $157,000,000[1]
Height
Roof 530 ft (160 m)
Technical details
Floor count 36
Floor area 950,000 sq ft (88,000 m2)
Design and construction
Architect NBBJ
Developer Schnitzer West
Structural engineer DCI Engineers
Main contractor Sellen Construction
Other information
Parking 480 spaces
Website
madisoncentre.com
References
[2][3]

The Madison Centre (formerly known as M5 Commerce Centre and 505 Madison) is a 560-foot-tall (170 m) skyscraper under construction in Seattle, Washington, United States. It is scheduled to be completed in 2017 and have 36 floors of office space totaling 950,000 square feet (88,000 m2) of gross leasable area. Upon its completion, it would be the eleventh-tallest building in Seattle. It is located at the intersection of 5th Avenue and Madison Street in Downtown Seattle, adjacent to the Seattle Central Library and William Kenzo Nakamura United States Courthouse.[2]

Schnitzer West bought the existing property at the site and hoped to begin construction of a skyscraper as early as 2008.[4] In the meantime, however, the late-2000s recession struck the economy and consequently the fate of many commercial real estate projects came under doubt, including 505 Madison.[5] Further development of the project hinged on securing a sufficient number of preleases by 2009,[6] which did not occur.[7]

In 2012, the project was revived and the developer began seeking permits to start construction.[8] Demolition of the pre-existing buildings on the site began in early September 2014.[9]

In February 2016, Touchstone Corporation announced that it would enter a joint venture with Schnitzer West to develop the Madison Centre, contributing $150 million in equity and a construction loan.[10]

See also

References

  1. ↑ Rosenberg, Mike. "Record construction frenzy sweeps downtown Seattle; more building to come". seattletimes.com. Retrieved March 27, 2017.
  2. 1 2 "Schnitzer West, Madison Centre: Business Nexus". NBBJ. Retrieved May 16, 2016.
  3. ↑ Madison Centre at Emporis
  4. ↑ James, Andrea (March 14, 2007). "More office space at College Club site". Seattle Post-Intelligencer. Retrieved March 29, 2012.
  5. ↑ Shevory, Kristina (October 21, 2008). "Even in Resilient Seattle, Office Vacancy Rate Is Rising". The New York Times. Retrieved March 29, 2012.
  6. ↑ Porter, Lynn (November 10, 2008). "Seattle commercial real estate players: 'We're not immune'". Seattle Daily Journal of Commerce. Retrieved March 29, 2012.
  7. ↑ Holden, Dominic (April 7, 2009). "Re: Boom Forever". SLOG. Retrieved March 29, 2012.
  8. ↑ Eric Pryne (April 25, 2012). "Schnitzer West revives plan for 36-story office tower downtown". The Seattle Times. Retrieved March 29, 2012.
  9. ↑ Levy, Nat (August 22, 2014). "Schnitzer West getting ready to start Madison Centre". Seattle Daily Journal of Commerce. Retrieved July 7, 2016. (Subscription required (help)).
  10. ↑ "Cornerstone joins Madison Centre JV". Seattle Daily Journal of Commerce. February 17, 2016. Retrieved July 7, 2016.
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