Richard Hedreen
Richard Castle Hedreen | |
|---|---|
| Born | April 15, 1935 Seattle, Washington, U.S. |
| Occupation(s) | Real estate developer, art collector |
| Years active | 1963–present |
| Known for | Chairman of R.C. Hedreen Co.; major art collection donation to Seattle University |
Richard Castle Hedreen (born April 15, 1935) is a Seattle-based American real estate developer and art collector. He serves as chairman of R.C. Hedreen Co., established in 1963, which has been responsible for developing notable properties in Seattle such as the Seattle Hilton, Grand Hyatt, Madison Renaissance Hotel, Olive 8, and Hyatt Regency Seattle. On March 13, 2024, Seattle University revealed that Hedreen had donated his entire art collection, valued at approximately $300 million, to create the Seattle University Museum of Art—recognized as the largest art donation ever given to a U.S. university.
Early life and education
Richard was born to Nona Castle (1912–2010) and Guy Noble Hedreen (1909–1993), who worked in insurance. He is the younger sibling of Guy Michael Hedreen (born 1933). While attending Seattle’s Garfield High School, he participated actively in golf and ski clubs and held the position of junior class representative.
In 1957, Hedreen earned a Bachelor of Science degree in civil engineering from the University of Washington. That same year, he married Elizabeth "Betty" Ann Petri, an alumna of Seattle University.
1960s–1980s
Hedreen embarked on his property development career in Seattle in 1963 by constructing the Harbor House apartments in Queen Anne, an 11-story building completed at a cost of $1.6 million. That year also marked his entry onto the board of the Home Builders' Association of Greater Seattle. By 1967, he initiated construction of the Washington Park Tower, a 24-story building located in Madison Park; however, progress was hindered by local opposition and zoning adjustments.
In 1969, Hedreen began developing the downtown Seattle Hilton Hotel, a 27-story structure. Originally approved as a 10-story parking garage adjacent to the Washington Athletic Club, it was later disclosed by Hedreen to be a hotel after interim mayor Floyd C. Miller announced plans for Freeway Park nearby as part of the Forward Thrust program. Concurrently, Hedreen was working on the 22-story Park Place building on the park site and negotiated terms to support both the park’s development and underground parking while continuing with Park Place. He opposed proposals to convert the Wilhard Hotel nearby into affordable senior housing. The Hilton Hotel project was completed and opened in November 1970 at a cost of $10 million.
In 1979, Hedreen developed the Crown Plaza Hotel (initially known as Park Hilton) and subsequently sold it to Holiday Inn for $32.5 million in 1983; that same year he also completed development of the Madison Renaissance.
Hedreen joined the board of trustees for the Seattle Art Museum in 1978 and led the Westlake construction committee responsible for overseeing Westlake Mall’s development. During this period, he encountered disagreements with Mayor Charles Royer concerning mall management. In 1989, he acquired the historic Music Hall theatre with plans to replace it with a 31-story hotel. Despite efforts by local activists and Allied Arts of Seattle to preserve the venue, it was demolished in 1992 and replaced by an office tower. Following delays attributed to preservation campaigns, Hedreen filed a $10 million lawsuit against the city.
1990s–2020s
By the mid-1990s, the rapid expansion of commercial construction in downtown Seattle had decelerated. In 1992, Washington Mutual foreclosed on Hedreen's Jefferson Square, a mixed-use residential project in West Seattle completed in 1987, due to an $18 million debt linked to poor occupancy rates and weak market response. Four years later, in 1996, Hedreen's firm succeeded Trammel Crow as the developer for a $144 million enlargement of the Washington State Convention and Trade Center.
In 2001, Hedreen introduced the upscale Elliott hotel (subsequently rebranded as the Grand Hyatt). At that time, a municipal regulation permitted developers to surpass building size restrictions by financing affordable housing or providing community benefits. Hedreen possessed $6 million worth of unused "bonus credits" accumulated from earlier projects and sought approval to apply these credits toward future developments. This initiative met with criticism for potentially diminishing funds allocated for affordable housing. Despite opposition from labor unions and some city council members, the ordinance was approved but subsequently vetoed by Mayor Greg Nickels, who argued it represented poor public policy favoring select interests. The mayor's veto was regarded as a victory for organized labor, which had unsuccessfully attempted to secure unionization agreements from Hedreen.
Later in 2002, Hedreen collaborated with Seattle Art Museum (SAM) board members and Washington Mutual to construct the 42-story WaMu Center adjacent to SAM, effectively tripling the museum’s footprint. In 2005, he commenced development of the Olive 8 tower, designed by Gluckman Tang Architects. By 2015, Hedreen completed the 45-story Hyatt Regency Seattle on land he had acquired since 1995, including the site formerly occupied by Seattle’s historic Greyhound bus terminal. Efforts to consolidate parcels for a more extensive development were thwarted following union intervention over concerns about contributions toward affordable housing. A proposed 34-story hotel at 824 Howell Street remains under consideration.
In 2014, Hyatt staff attempted to negotiate union representation with Hedreen through Unite Here Local 8 but were unsuccessful. In 2017, Hedreen supported legal challenges against Seattle’s Initiative 124, which aimed to strengthen protections for hotel workers; Mayor Jenny Durkan faced criticism for not opposing these lawsuits despite receiving campaign donations from PACs connected to Hedreen. Initiative 124 was ultimately overturned in 2018.
Hedreen voiced opposition to the 2018 Seattle head tax intended to finance homeless services. In 2019, he engaged with CASE, a political action committee affiliated with the Seattle Metropolitan Chamber of Commerce that endorsed pro-business candidates over pro-union City Council contenders.
In 2021, Hedreen contributed funds toward recall efforts targeting Council member Kshama Sawant; however, the recall did not succeed. That same year, he also backed Ann Davison’s campaign for Seattle City Attorney.
Art collector
Hedreen and his wife Betty are distinguished collectors of art whose holdings encompass old masters as well as modern and contemporary works by artists including Pablo Picasso, Jasper Johns, and Anselm Kiefer. Their collection has earned them recognition on ARTNews’ list of leading global collectors. They have served on the International Council of MOMA and on the Trustee Council of the National Gallery of Art.
As a billionaire collector, Hedreen underwent audits in both 1984 and 2004 that resulted in a $25 million penalty related to art acquisitions. Among his collection are significant pieces such as Tom Otterness’s sculpture "The Miser," displayed at his Grand Hyatt Hotel, and James Rosati's Loo Wit, which he donated to Seattle University.
In 2011, Hedreen purchased a Frans Hals painting at Sotheby’s for $10 million; it was later identified as a forgery and refunded. In 2021, he sold David Hockney's Nichols Canyon (1980) for $41 million through Phillips auction house.
The Hedreens have gifted artworks to institutions including the National Gallery of Art, Seattle Art Museum, and Seattle University—the latter having galleries named in their honor.
On March 13, 2024, Seattle University announced that Hedreen donated his entire art collection valued at $300 million along with $25 million designated to establish the Seattle University Museum of Art. This contribution represents the largest art donation ever made to a university nationally, the most significant gift in Seattle University’s history, and ranks among the largest university art donations across the United States. The collection features over 200 works by artists such as Berenice Abbott, Henri Cartier-Bresson, Willem de Kooning, Roy Lichtenstein, Robert Rauschenberg, Amy Sherald, Titian, Andy Warhol, among others. This gift honors his late wife Betty Hedreen—a Seattle University alumna who lived with multiple sclerosis for 55 years—and reflects appreciation for the Jesuit tradition in arts education.
On April 30, 2024, both Hedreens were inducted into the Jesuit Honor Society.
Personal
Hedreen is a father to four children: Guy Michael Hedreen II, who serves as an art history professor at Williams College; Elizabeth "Betsy" H. Hill; Jane M. Hedreen, a designer and proprietor of Flora & Henri, married to David Thyer, the president of R.C. Hedreen Co.; and Carl W. Hedreen. He also has eleven grandchildren named Estelle, Olivia, Guy, Rose, Ricky, Graham, Ellie, Clayton, George, Gavin, and Frances.