POTALA TOWER
The $190 million project was designed by Weber Thompson and consists of 342 apartments and a 142-room hotel. It was financed partially by Chinese nationals through the EB-5 visa program and began construction in April 2015.
Construction was put on hold in August 2015, when the assets of project developer Lobsang Dargey were frozen by a court order after a civil fraud suit by the U.S. Securities and Exchange Commission. The project was then transferred to a court-appointed receiver and later stripped of its EB-5 eligibility. In May 2016, the presiding judge approved a plan by two firms to buy out Dargey's share of the project and restart construction.
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2116 4th Street
Seattle, WA
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The tower is 41 stories, including 2,743 square feet of retail space at ground level, 329 parking spaces, 142 hotel rooms, and 344 apartments comprising floors 11 through 41. Amenities include a 7th floor deck for the hotel and a rooftop terrace for apartment residents; the original design for the rooftop deck included an outdoor movie theater. The Hotel operates within the tower, occupying floors 2 through 10, and includes a lounge, meeting spaces, a fitness center, and a bistro. The apartments range from 520-square-foot studio to a 1,869-square-foot penthouse.
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Highest and Best Use Analysis.
Distressed Asset Management.
Development Management.
Entitlement Services.
