The Seattle office of developers Wood Partners announced it will soon begin construction on a 27-story, 298-unit high-rise apartment complex in Seattle's Belltown. The Third and Cedar tower will mix a variety of apartment floor plans and configurations including studios, urban and traditional one- and two-bedroom units.

"The Third and Cedar project is strategically positioned in the north end of the Belltown restaurant and nightlife district close to Seattle Center and South Lake Union, one of the most vibrant urban areas not just in Seattle but in the nation," said Steve Orser, Wood Partners' vice president of development for the Pacific Northwest. "It has a palpable vibe to it that should attract young, technologically oriented professionals to the many outstanding employers in the area."

Amazon recently relocated its headquarters to the South Lake Union district of Seattle. Third and Cedar is only blocks away from Amazon's recently announced three-tower development which will begin in 2013.

The announcement of Third and Cedar closely follows the commencement of construction on apartment tower at 815 Pine.

"Despite the fact that some new residential units have been added to the neighborhood, there is still not enough housing to meet the demand created by the employment growth," said Mr. Orser. "The Third and Cedar project is an ideal location to capitalize on this imbalance."

The development will feature an expansive roof deck with a fire pit and gas barbecue grills, a rooftop residents' lounge and 360 degree views of Seattle. The complex will also include an exercise facility with a bicycle workshop.