Portfolio | Fourth & Madison Tower
Fourth & Madison Tower (which opened as IDX Tower in 2003) was the first large office high-rise built in downtown Seattle in nearly 15 years. The building shares its block with the landmark YMCA. Development permitting required full vacation of the alley in the project block, in order to organize a marketable office floorplate. Some 400,000 s.f. of additional floor area was obtained through the acquisition of transferable development rights (TDRs) from the YMCA site and other sources -- what remains the largest TDR transaction in City history. Proceeds of the TDR transaction were used to renovate the historic YMCA building, including the developmen of new housing there for low-income, at-risk youth.