Artist rendering of Southport Office . Courtesy SECO Development.

Southport Office Campus will be a high-tech campus for the next generation of tech hubs and creative companies. Artist rendering courtesy SECO Development.

SECO Development broke ground last week on its $350 million Southport Office Campus in Renton. The new campus will be made up of three nine-story towers with nearly 730,000 square feet of waterfront office space. It will be one of the largest office projects under construction in the Puget Sound area.

The new Southport Office Campus is being built to house the next generation of high tech hubs and creative companies. The area offers advantages compared to other nearby communities. Rent is 25 percent lower than it would be in downtown Seattle and Bellevue. Renton also has one of the lowest business and occupation tax rates in King County. The Southport campus wants to capitalize on high interest in the Renton and Tukwila area.

“Early interest from prospective tenants – and buyers – has been remarkable,” Kip Spencer, director of leasing & marketing at SECO Development, said in a release. “We’re delighted to be talking with some of the most innovative and recognizable organizations who view Southport as a premier location for their businesses and employees.”

SECO and Hyatt Hotels unveiled plans for a 12-story, 347-room Hyatt Regency Lake Washington at Seattle’s Southport last fall. When it opens next year, it will be the first four-star hotel within a 10-mile radius of the Seattle-Tacoma International Airport. It will feature 43,000 feet of conference space, a lakefront restaurant, rooftop terrace and a spa.