City of Seattle Mike McGinn, Mayor

SAFECO to expand in University District
“ We are welcoming millions of dollars of investments
and 1,600 new jobs to Seattle.”

SEATTLE – Mayor Greg Nickels and Safeco Corporation Chairman, President and Chief Executive Officer Mike McGavick announced today that Safeco has a preferred location to consolidate its corporate headquarters – Seattle. This move will bring more than 1600 additional jobs to the city and provide a tremendous economic boost to the University District neighborhood.

Nickels called Safeco’s decision an important moment for the city and a huge shot in the arm for a neighborhood that has struggled for years to attract jobs and investment.

“We are welcoming millions of dollars of investments and 1,600 new jobs in the city today,” Nickels said. “It is a vote of confidence not only in Seattle, but in the all the hard work we’ve put into revitalizing this great neighborhood. Safeco never gave up on the University District and neither did we.”

“After reviewing all the people, economic and operational factors, we found the benefits of consolidating in Redmond or Seattle to be roughly equivalent,” said McGavick. “So, we chose the location where we believe we can do the greatest good. We hope our planned investment in the U-District will be a source of pride and serve as a catalyst to make this neighborhood even more vibrant, diverse and successful.”

Safeco is one of the nation’s leading insurance companies and one of Seattle ’s largest private employers. The company plans to build new office space near its landmark tower in the University District and relocate employees now working in Redmond.

Safeco was founded in Seattle in 1923 and has grown into a $6.2-billion-a-year company serving more than 4.3 million policyholders. After the successful sale of its Life & Investment operations last year, the company faced a choice of consolidating it employees at the Seattle headquarters or its office campus in Redmond.

To make room for the additional employees, the company plans to expand its current building to the south and construct a 125 foot tall building with a skybridge across Brooklyn Avenue Northeast. Nearly 3,200 people will work at the expanded headquarters.

Nickels said the City is committed to working with Safeco to issue building permits in a timely fashion. The project will also require:

• Rezoning property for the new building to 125 feet from the current 65 foot limit;
• Approval to expand an underground parking garage below a portion of Brooklyn Avenue Northeast ;
• Coordination between Sound Transit and Safeco to ensure the planned Link light rail station at Safeco Plaza does not interfere with the project.

Two years ago, Nickels unveiled a plan to revitalize the University District and its main commercial strip, “The Ave.” The program has included efforts to attract economic investment, rebuild University Way sidewalks and paving, improve safety and security, expand parks and encourage new and affordable housing development.

The mayor also pushed for the successful lifting of the lease lid that restricted the amount of space the University of Washington can lease outside its campus.

The University District effort encompasses all four of the mayor’s priorities for the city: creating jobs and economic opportunities; improving transportation; strengthening public safety; and building strong families and healthy community.

“We can’t take companies like Safeco for granted and that is why it is so important that we make sure Seattle remains a good place to do business,” Nickels said. “Safeco has been a big part of Seattle ’s history and I’m happy to say they will be a big part of our future as well.”

Visit the mayor’s web site at www.seattle.gov/mayor. Get the mayor’s inside view on initiatives to promote transportation, public safety, economic opportunity and healthy communities by signing up for The Nickels Newsletter at www.seattle.gov/mayor/newsletter_signup.htm

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