The State Hotel

The State Hotel

Seattle, WA

The State Hotel was the redevelopment of a building that had been vacant for multiple decades. It was originally constructed in 1904 as a medical office building. It is now a 4-star boutique hotel located right next to Pikes Place market. The redevelopment project was completed in 2019.

Total Development Costs:

~$40 million

Project Sources:

10% Federal Rehabilitation Tax Credits, City Grants / TIF, Traditional Equity Deferred Developer Fee, and Construction Loan
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