Hedreen to Develop Second Hyatt in Seattle
SEATTLE, WA, May 07, 2006. Local developer R.C. Hedreen Co. and the Global Hyatt Corp. will jointly build Hyatt at Olive 8, a $175 million hotel and condominium project breaking ground at the corner of Eighth Ave. and Olive Way.
The luxury hotel will be sited within the first 17 floors of the new skyscraper. There will be 198 condominium homes on the upper 19 floors of the building.
It's one of a wave of condo-hotel projects planned or under construction in downtown Seattle: 2200 Westlake, Madison Tower and Hotel 1000 at First Avenue and Madison Street, the Four Seasons Seattle at First Avenue and Union Street and a full-block development at Second Avenue and Pine Street.
Hedreen and Hyatt jointly own the Grand Hyatt Seattle, operated by Hyatt. A similar arrangement has been reached for the Olive 8 property, officials said Friday.
The hotel will have 350 luxury rooms and amenities available to both guests and homeowners, such as a spa, pool, maid service, valet parking, and room service. It's scheduled to be finished in August 2008.
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