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Company plans hotel-condo towers in downtown Seattle

Seattle Post Intelligencer

New York real estate investment banker Multi Capital Group plans to build two hotel and condo towers in downtown Seattle, the company confirmed Monday.

Each tower would equal about 500,000 square feet, for a total of 400 hotel rooms and 400 condos, said Steven Gestetner, vice president of the New York company and founding member of the project's Seattle development manager, Hummingbird Advisors LLC.

The approximately $900 million project, called Heron Tower, is the first for Hummingbird, and none of the plans is final, he said. It is seeking a hotel operator. The property is on Fifth Avenue between Virginia and Stewart streets.