PaulNels Carlson Construction was started in 1924 to complete the construction of the Olympic Hotel, originally a partnership between the then project’s superintendent & civil engineer when the original contractor died of a heart attack before project complete. PNC as it soon began to be called, then went on and was successful in building numerous landmark structure in Seattle. Google the Olympic Hotel and the Fifth Avenue Theater to get a flavor of some of the early work accomplished.
After Paul Carlsons death, PNC operated successfully under the guidance of family members as an (AGC) Associated General Contractor member and Seattle general contractor with a developed specialization tenant improvement a branch bank construction until in 1981 when the company was purchased and incorporated by the Gorman’s as Paul Nels Carlson Construction Co., Inc.
PNC then continued as a double breasted (both union & non-union)operation doing mostly bank, commercial office building & tenant improvement work in the Seattle area until it suspended it’s operation, in 2005, because of the “great recession”, the lack of construction work, and the near impossibility of many of its past clients obtaining development financing. All of which left only the then “hard money bid public works market” with its pitfalls & governmental regulations open to it – Simply put the Gorman family owners of PNC then concluded to change from being a for hire or bid general contractor to very qualified Real Estate professionals, investors & developers; and to stay on the fence related to direct construction and see what opportunities, if any, develop.