Pine Street Group’s (PSG) strengths include feasibility analysis, budgeting, selection and management of the architects and consultants, permitting, construction management, leasing, tenant improvements and on-going property management. Frequently, this has required reshaping public policy in concert with City of Seattle elected and appointed officials to accommodate innovative, new development approaches.
The genesis of PSG was Pine Street Associates L.L.C., formed in 1994 to redevelop three downtown Seattle blocks encompassing nearly two million gross square feet, including:
- Renovation by Nordstrom of the former Frederick & Nelson department store into its new flagship store and headquarters offices (opened 1998);
- Development of Pacific Place, including a 1,200-car below-grade garage owned by the City of Seattle (opened 1998); and,
- Redevelopment of Nordstrom's former downtown store (opened 1999) and the neighboring Seaboard Building (opened 2001) into retail, office and residential condominiums.
In 2001, when the three-block project was completed, PSG was formed to launch new development initiatives.
Following the three-block project, in partnership with the Seneca Real Estate Group, PSG developed a 900,000-square-foot headquarters office tower for Washington Mutual and a 300,000-square-foot expansion for the Seattle Art Museum (SAM). The office and garage portion, now called Russell Investments Center, opened in spring 2006. The SAM expansion opened in spring 2007.
PSG's recently completed development of Via6, a 654-unit apartment project at Sixth and Lenora in downtown Seattle. Via6 is the largest apartment project ever developed in one phase in downtown Seattle and is designed to become a vertical community rather than just a place to live.
Currently, PSG is project managing the development of a proposed addition to the Washington State Convention Center. The preferred location for the addition, which will essentially double the current capacity, is one block northeast of the existing facility. Construction is expected to begin in 2017 and finish in 2020.
In addition to its development and property management efforts, PSG principals and managers take active roles in the community. PSG also is highly engaged with the Downtown Seattle Association, promoting the economic health of downtown Seattle and helping formulate policy on density, transportation, and other issues.