Vulcan, Inc.
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| Formation | 1986 |
|---|---|
| Founders | |
| Type | Private |
| Purpose | Philanthropy, Education, Entertainment, Technology, Investments, Real Estate, Spaceflight |
| Headquarters | Seattle, Washington, United States |
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Area served
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Worldwide |
| Owner | Paul Allen |
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Key people
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Paul Allen, founder, chairman Bill Hilf, CEO Jody Allen, co-founder |
| Website | Vulcan.com |
Vulcan Inc. is a private company founded by philanthropist and investor Paul Allen. It was established in 1986 and oversees Allen's diverse business activities and philanthropic endeavors--from sports teams which include the Seattle Seahawks and the Portland Trail Blazers to conservation projects such as the Great Elephant Census, the Seattle Cinerama, and Museum of Pop Culture.
Headquartered in Seattle, Washington, the company's mission is to find solutions for some of the world's toughest challenges.
Vulcan Northwest was formed in Bellevue, Washington in 1986 to manage the business affairs, investments, and philanthropic affairs of Paul Allen. Initially the company had a Pacific Northwest focus, but dropped the Northwest in 2001 to reflect its burgeoning global interests. The company’s headquarters have since moved to Seattle’s International District.
Vulcan's Real Estate division offers development and portfolio management services from site selection and urban planning to build-to-suit construction, leasing and asset repositioning. Vulcan has developed 6.6 million square feet of new residential, office, retail and biotechnology research space and has a total development capacity of 10,000,000 square feet (930,000 m2).
Vulcan Real Estate is known for the redevelopment of the South Lake Union neighborhood immediately north of downtown Seattle and along the south shore of Lake Union. Several innovative companies in technology, life sciences, global health and business, are based in Vulcan developed properties. More than $5.7 billion has been invested in the neighborhood since 2002 for development projects and public infrastructure improvements.
Vulcan advocated for the Seattle Streetcar line known as South Lake Union Streetcar, which runs from Seattle's Westlake Center to the south end of Lake Union. The Streetcar is a public and private partnership created through a Local Improvement District (LID) supported by businesses and residents along the line; The LID provided 50% of the funding while the remainder came from Federal and State sources with no city money used for its development costs. The streetcar officially started operation on December 12, 2007. This development has been criticized as a city-supported real estate investment for Vulcan Inc., and concerns over the loss of low-income housing have been expressed.
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