Insignia Developer (Likely) Coming to Downtown Seattle
Bosa, the developer of Insignia, the 698-unit condo project on the edge of Belltown, has reached a tentative deal to develop a whole block across from City Hall. From the PSBJ, Condo developer takes over Seattle’s long-stalled $400M Civic Square project.
Under the new agreement, Bosa will pay the city $16 million for the property and contribute another $5.7 million to the city’s affordable housing fund. In addition, Bosa will pay Triad for the development rights, said city Budget Director Ben Noble, who did not know the terms of the deal between the two private companies. Triad officials were not available to comment, and Bosa officials declined to comment.
Construction would start in 2018, finishing in 2020. It’ll be interesting to see how this develops as Insignia has had quite a positive reception.