U.S. Bank Center (Seattle)
| Industry | Commercial real estate / Office building |
|---|---|
| Predecessor | Pacific First Centre |
| Founded | May 30, 1989 in Seattle, Washington, U.S. |
| Fate | Renamed from Pacific First Centre; ownership changes |
| Headquarters | Seattle , United States |
Area served | Seattle metropolitan area |
Key people | Gerry Gerron (architect, Callison Architecture) |
| Products | Commercial office space |
| Owner | EQ Office (subsidiary of Blackstone) |
U.S. Bank Center, previously known as U.S. Bank Centre, is a 44-story high-rise located in Seattle, Washington. Built between 1987 and 1989 and initially called Pacific First Centre, this structure reaches a height of , making it the eighth tallest building in Seattle. The design was crafted by Callison Architecture, which has its headquarters within the building, providing of commercial office space.
History
The block situated between 5th and 6th avenues, bordered by Pike Street and Union Street, was once occupied by the Music Box Theatre, the Windsor Hotel, and a jewelry shop. In 1983, plans emerged for a 46-story Stimson Center that would have been Seattle's third tallest at , featuring a $200 million mixed-use project including a major department store and a parking garage accommodating 1,200 cars. The oval-shaped tower, designed by John Graham & Company, faced opposition due to its scale but obtained street vacation approval in 1985.
Progress halted when financing fell through in late 1985 after key tenants such as law firm Perkins Coie withdrew their commitments. Disputes among developers led to litigation amid debts totaling $12 million. Prescott, Inc. took over the project in 1986, revising the plans into a 44-story tower initially named the 1420 Fifth Avenue Building; these updated designs were approved by the city council in December of that year.
In February 1987, Tacoma-based Pacific First Bank agreed to move 225 employees into the newly renamed Pacific First Centre. Other principal tenants included law firm Lane Powell PC and Callison Architects. Prescott innovated by securing Japanese financing partnerships with Hazama Corporation and C. Itoh & Co. Demolition commenced in August 1987 with Sellen Construction as general contractor. A fatal incident during construction resulted in safety penalties for subcontractor The Erection Company.
The Pacific First Centre opened on May 30, 1989 amid an oversupply of downtown office space and was reported to be 21% vacant by 1990. Ownership temporarily transferred to financer Seafirst Bank in September 1989 to prevent foreclosure; Prescott regained control in December 1990. Features included a three-level public lobby, upscale retail outlets, a two-screen cinema, and one of Seattle’s earliest downtown Montessori schools and daycare located on the 23rd floor. FAO Schwarz operated a toy store there from 1995 until its closure in 2004.
Following Pacific First’s acquisition by Washington Mutual in 1993 and their planned departure, U.S. Bank secured an eight-floor lease and naming rights that same year. The bank relocated in December 1993, renaming the property U.S. Bank Centre. Bentall (later Ivanhoé Cambridge) purchased the tower for $236 million in 1998; Emirati company Emaar Properties acquired a 50% interest for $130 million in 1999. The on-site movie theater was managed by Loews Cineplex until it ceased operations in February 2001 after several years of financial losses.
In 2019, EQ Office—a subsidiary of Blackstone—purchased U.S. Bank Centre along with Docusign Tower for $1.2 billion. In 2021, EQ announced a $70 million upgrade of the lobby and retail spaces, creating "Cedar Hall," a new commercial area spanning three floors that opened in June 2023. At the same time, the building was renamed U.S. Bank Center.
Design
Gerry Gerron from Callison Architecture conceived the Pacific First Centre with an indoor street theme in its lobby and retail spaces, aiming to create a third place environment accessible to the public. The building’s first three floors integrate high-end retail outlets, dining establishments, a Cineplex cinema, and popular chain restaurants. The lobby, adorned with marble and granite and framed by expansive windows, was recognized for its welcoming atmosphere, standing out from typical Seattle high-rises. The structure is topped with a pointed crown that evokes the shape of an Egyptian obelisk.
Art collection
Within the public shopping zone, the building showcases a permanent art collection supported by a 1% allocation from construction expenses. This collection includes notable pieces such as Dale Chihuly’s Flower Form 2.