The Seattle-based developer Touchstone confirmed on Thursday its plans to continue development on the Washington Square superblock, according to several local reports. At the National Association of Office and Industrial Properties, Douglas Howe (founder of Touchstone) spoke about the plans for a purposed development on the corner of NE 8th St & 106th Ave, the same block where the 2 Washington Square towers currently reside.
According to reports Howe hopes to break ground in 2012 on a 15-story office, hotel, and retail complex. The hotel would have around 250 rooms as planned. Howe called this ‘phase 1,’ implying that there would be other phases, but he did not go into details.
In the interview Howe confirms that they have financing ready for their complex and also have a tentative commitment from a company that would occupy half of the office space. Word of Touchstone reaching a tentative deal to buy a portion of the superblock was reported last December. The project was planned then as a 9-story complex.