Group plans apartments for land near Lake Union

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A large site facing Lake Union was acquired this week for nearly $80 million by Holland Partners, a Vancouver-based real estate group that has proposed building 800 apartments there, the Seattle Times reported.

Holland Partners bought the 5.5-acre redevelopment site from Chicago-based Equity Office Properties. In preliminary plans filed with the city of Seattle, Holland Partners proposes to spend about $165 million developing 800 apartments in phases in buildings up to 65 feet high. The site also could accommodate hotel, office and life-sciences buildings.

Holland Partners has apartment projects in Washington, Oregon, California, Arizona and Colorado. Its website lists seven apartment projects in Seattle, of which four are in South Lake Union.