Wasatch Unveils Design for Billion-Dollar Project

BELLEVUE, WA-Wasatch Development Associates of Utah unveiled the design for the first phase of its eventual $1.2-billion Downtown development here called Washington Square. The project site is a 10.5-acre parcel bordered by Northeast 8th Street, Northeast 10th Street, 106th Avenue Northeast and 108th Avenue Northeast.

The overall project calls for five condominium towers, an office building, a boutique hotel, 150,000-sf of retail, townhouses, a health club, a spa and an events center to be built around a terraced outdoor plaza over the next five-to-seven years. The first phase will include 360 condo units in two 22-story towers, 26 two-story townhouses and 20,000 sf of retail and restaurant space. The first tower is scheduled to open in early fall 2007.

The project architect for Washington Square is Seattle-based CollinsWoerman, and the contractor is Salt Lake City-based Big-D Construction. Washington Square’s sales director is Julie McAvoy, president of Urban Realty Group LLC. The phase-one lender is US Bank.

The late Bellevue developer Eugene Horbach assembled much of the property that will become Washington Square. Wasatch officials say the terraced plaza will be named in his memory.

Wasatch Development Associates LLC is a sister company of Ogden, UT-based Wasatch Property Management, a private, investor-owned real estate company founded in 1988 that owns and operates about 11,000 apartment units and 3 million sf of office and retail space in the Western US. In addition to Washington Square in Bellevue, Wasatch Development Associates is developing a restaurant, hotel and convention center adjacent to a new class A corporate headquarters building in Logan, UT. Wasatch Development Associates expects to break ground for a mixed-use office and condominium development in downtown Salt Lake City in spring 2006.