Rendering: Martin Selig Real Estate
WeWork has signed a deal with Martin Selig Real Estate to build a 36-story mixed-use development in the Belltown neighborhood. The company specializes in renting out office space for teams, small businesses and entrepreneurs who want to work in a shared area.
The new tower is planned for the corner of Third Street and Lenora in downtown Seattle and will contain 384 apartments and 200,000 square feet of office space. Twenty-three of the floors will be used for WeLive, the communal housing business that WeWork started in 2016, and the rest will be dedicated to WeWork co-working space, common areas and retail. WeWork already operates three co-working centers in Seattle and one in Bellevue.
Renderings: Martin Selig Real Estate
The building is designed with a split core, which, according to the architects, “maximizes social spaces, daylight, and views by breaking down the overall bulk of the core into smaller, more discrete sections,” reports Architect’s Newspaper. The tower also features alternating, multi-story atrium spaces and a 40-foot-tall rooftop conservatory.
WeWork and Martin Selig Real Estate will share construction costs and it will be WeWork’s largest deal by square footage, according to the company. WeWork’s co-working business already has more than 130,000 members in more than 160 locations around the world.
The tower is expected to begin construction in the next few months with an expected completion date of 2020.