The predecessor to Pine Street Group L.L.C. (PSG), Pine Street Associates, acquired the ten-story landmark Seaboard Building at Fourth Avenue and Pike Street for redevelopment by PSG into 24 high-end condominiums and 60,000 square feet of office and retail space.
Key to the feasibility of renovating this City of Seattle landmark was changing the City's Land Use Code to enable the in-filling of a U-shaped light well and the addition of penthouse condominiums. This enabled a significant structural upgrade of the property and created an additional nearly 20,000 square feet of office and condominium space for lease and sale.
PSG manages the Seaboard Building and also manages the condominium association encompassing the residential and commercial units of the property. As part of its management responsibility, PSG took Seaboard through the lengthy national landmark process with the National Park Service to take advantage of the tax credits available for historic buildings.