New Owners Rebrand Seattle High-Rise Project
- May 10, 2017
The development team of the Molasky Group and Binjiang Tower Corp. are rebranding Potala Tower, a 41-story mixed-use tower under construction in downtown Seattle, to Arrivé.
“Frankly, the original brand was heavily influenced by Tibetan culture and that is not the direction this ownership group wants to take,” Mike Doran, vice president of development and construction of Molasky Group of Cos., told Commercial Property Executive. “We want to create a hotel and a rental product that is upscale and appealing across many demographics and cultures.”
Located at 2116 Fourth Ave., Arrivé will consist of ground level retail, an upscale hotel, well-amenitized apartments and secure below grade parking. The building is adjacent to the landmark Seattle Cinerama and sits just two blocks from Amazon’s 3-million-square-foot headquarters.
“Arrivé is one of the first for-rent mixed-use properties in Seattle; it’s located in downtown next to the Amazon campus with beautiful views of Seattle and Puget Sound,” Doran said. “We believe we are well positioned geographically to take advantage of Belltown’s re-emergence as a vibrant downtown area. The project is located within walking distance between the central core and South Lake Union. Arrivé provides a central place for people to connect whether just visiting or if they want to make it their home.”
Weber Thompson is serving as architect of the building. The project is scheduled to be delivered in the first quarter of 2019.
“Both Molasky and Binjiang have significant multifamily portfolios. When this opportunity came up, we saw that it aligns with our development perspectives,” Doran added. “Great consideration was given to blending the high-rise product into the urban landscape with a design that responsibly considers the environment and is overall a quality product,” he concluded.