Labor Temple Gets Funding in Stabilization Effort

For more than 75 years, the Labor Temple was home to Seattle’s labor trade activities. Originally built in 1942, expanded in 1955 and landmarked in 2008, the office building now totals 40,000 square feet on a half-block site at 2800 First Ave. in the Belltown neighborhood, two blocks from the Seattle waterfront.

Columbia Pacific Advisors Bridge Lending, a platform within Columbia Pacific Advisors, recently provided a $14.3 million bridge loan to stabilize the property.

“We are encouraged by the movement in Seattle’s commercial market as companies return to work and remote workers seek office space outside of the home,” said Billy Meyer, managing director of real estate lending at Columbia Pacific Advisors. “Working on a project in our hometown is a highlight, especially when we are able to help bring new life to a piece of history. We believe the building’s optimal location and corporate amenities will be a draw to commercial tenants.”  

The Labor Temple building was acquired by Seattle-based FAUL in December 2020. The three-story historic building is currently undergoing renovations which are expected to wrap by November of this year. The refurbished Labor Temple will include private meeting rooms on each floor, a fitness center and 67 large office suites. Boutique technology companies have expressed interest in pre-leasing space.

“After acquiring the site last year, our team put together a plan to honor the Labor Temple’s history while also creating a space for business to flourish,” said Chris Faul, principal of FAUL.