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Overview

When this steel-frame skyscraper was completed in 2009, the $162-million Olive 8 tower combined a luxury hotel, a 346-room Hyatt, with a 229-unit condominium building. The "Hyatt at Olive 8" was positioned to serve groups holding meetings at the nearby Washington State Convention Center. The New York architectural firm of Gluckman Mayner designed the Olive 8 tower, assisted by the local firm of Mulvanny G2.

Building History

Begun in 2005, occupancy was set for Fall 2008. The complex advertised the tower's fitness center, spa, and 65-foot pool, 10-foot to 11-foot 4-inch ceilings, and access to hotel amenities. A luxury hotel--the Hyatt at Olive 8--was located on the tower's lower floors, and it opened on 01/30/2009. (See Hyatt.com, "Hyatt at Olive 8 Opens," published 01/30/2009, accessed 09/12/2018.) The R.C. Hedreen Company, a company specializing in hotel and apartment buildings, served as the developer of Olive 8. Hedreen assembled the following team to design and build its new condominium high-rise: Gluckman Mayner, design architect; Mulvanny G2, project architect; JTM Construction, general contractor; KPFF Consulting Engineers, structural engineer; McKinstry, Mechanical/plumbing engineer; Sparling, electrical engineer; Bush, Roed and Hitchings, civil engineer; BRC Acoustics, acoutical engineer; Rushing Company LLC, energy/LEED consultant.

The building stood elevated on a pedestal that contained hotel and condo lobbies, meeting rooms and the ballroom. The lower part of the shaft contained the Hyatt's 362 rooms, while the condominiums were arrayed in the shaft's upper floors; seen from the exterior, the condominium section can be differentiated from the hotel by the floors that contain balconies.

Erected just as the economy skidded during the Recession of 2008, the tower's ownership had some difficulty selling condo units initially. The development was mentioned in an article by Eric Pryne in the Seattle Times, ("Will steep price cuts fill high-end condos?" Seattle Times, 07/14/2009, p. A1, A6); this front page real estate article underscored the impact of the 2008 economic collapse on Seattle and Bellevue's upper-end condominium market. Early sales of Olive 8's condominium units was poor; in 07/2009, buyers had closed on only 28 of the building's 229 condos.

Building Notes

The Hyatt Hotel featured a restuarant, coffee shop, ballroom, various meeting rooms and a fitness room.

The residences in the Olive 8 Tower--located on floors 18-39--ranged from 1-3 bedrooms and were all given a LEED Silver rating. In 05/2009, the Daily Journal of Commerce reported: "The remaining one- and two-bedroom condos begin at $750,000 and $1.1 million. Two penthouse condos are available for $3.8 million and $7.5 million." (See Daily Journal of Commerce.com, "Olive 8," published 05/26/2009, accessed 09/12/2018.) By12/2009, prices for the residential units ranged from $400,000 to $6.9 million.

Olive 8 contained 399,189 gross square feet, 287,065 net. The building occupied a 29,160-square-foot (0.67-acre) lot.