Board of Trustees Amends UW Plaza Lease to Allow for Condominiums
The trustees voted to amend its agreement with University Plaza LLC, the private developer of the UW Plaza east of campus, to allow the construction of new retail businesses, restaurants as well as condominiums, according to a UW news release.
“We are excited about the progress at UW Plaza with the opening of the newly constructed, 10-screen stadium theater operated by Movie Palace Inc. We have continued plans for development on the site that will include a mix of retail, restaurants and condominiums,” the company said in a statement. “We look forward to working with the university to create a first-class development that becomes the front porch for UW athletics and enhances the game-day experience for students, alumni and the community.”
The UW Plaza, development of which began in 2005, houses multiple restaurants and retail businesses, including the new movie theater. A new business, Toppers Pizza, is expected to open soon.
UW Spokesman Chad Baldwin said the board wanted to see continued development of the UW Plaza, as they felt there is space for more businesses and other development such as condominiums.
“The developer approached the university to amend the lease to allow condominiums, and the Board of Trustees believes it will be beneficial to add those to the mix of retail businesses and restaurants already in place there,” Baldwin said.
Baldwin said the trustees voted to proceed with the authorization of the ground lease earlier this spring and on April 20 the trustees executed the document.