For the past few years, Canadian developer Arbutus Properties has been planning two projects on a pair of facing sites in South Lake Union, just west of Interstate 5 and near REI.
Arbutus already owns the west triangle, where a 45-story, 435-unit residential tower is now in design review. Now, through an LP, it has paid over $7.2 million to begin assembling the east triangle, at 1305 Stewart St., where a 14-story office building is planned.
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