Work is underway on 9th & Thomas, a mixed-use project in South Lake Union, a development financed in part by the Multi-Employer Property Trust (MEPT), a $7.5B fund.
Union work crews are on the project, which is being done by Sellen Construction, which owns the site and is the region's largest privately owned and managed union construction company.
Pension plans are the investors in MEPT, and they'll get some of the cash flow from 9th & Thomas once the building is done, the Puget Sound Business Journal reports. The first floor of the 165k SF office building will include retail and restaurant space. The development is one of a number in South Lake Union; currently more than 1.1M SF of commercial space is underway there. [PSBJ]
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