Toll Brothers hits the pause button on a Belltown Highrise Project
Toll Brothers, a well-known luxury single family home builder has hit the brakes on its Seattle high-rise project according to the Daily Journal of Commerce. The company has purchased an entitled high-rise site at 2302 Fourth Avenue in Belltown just a year ago.
Toll Brothers wasted no time applying for permits soon after purchase in order to start construction of the 25-story tower. At the beginning of June, however, the company has announced that it will suspend the plans for now. The site, which is now home to boarded up Franklin Apartments was to feature a 269-unit condominium project dubbed “The Franklin”, according to the article. Ankrom Moisan was to be the architect of the building and Toll Brothers looked at building the project itself.
While known mostly for single family home construction, Toll Brothers has multifamily projects in other cities such as New York and Philadelphia in addition to Seattle. While all of the projects are now on an indefinite hold, the company has no plans to sell the land it owns.
Founded in Pennsylvania 1967 by Bruce and Bob Toll, Toll Brothers is Fortune 500 company and one of the leaders in the luxury homebuilding sector. Publicly owned, the company has built new homes in 24 states in the US.Email