8-K

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
                                    04/06/05
                Date of Report (Date of earliest event reported)

                               SAFECO CORPORATION
               (Exact name of registrant as specified in Charter)

            WASHINGTON              1-6563             91-0742146
         (State or other        (Commission          (IRS Employer
         jurisdiction of         File Number)       Identification No.)
         incorporation)

                     Safeco Plaza, Seattle, Washington    98185
              (Address of principal executive officers) (Zip Code)

                                 (206) 545-5000
              (Registrant's telephone number, including area code)


Check  the  appropriate  box  below  if  the  Form 8-K  filing  is  intended  to
simultaneously satisfy the filing obligation to the registrant
under any of the following provisions:


|_| Written communications pursuant to Rule 425 under the Securities
    Act (17 CFR 230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange
    Act (17 CFR 240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 - Other Events

On April 6, 2005,  Safeco  Corporation  issued a press  release  announcing  its
selection  of  Seattle's  University  District  as  its  preferred  location  to
consolidate  the  company's  Puget  Sound-area  operations.  A copy of the press
release is attached as exhibit 99.1.

Item 9.01 - Financial Statements & Exhibits

Exhibit 99.1 - Press release "Safeco Selects  Seattle's  University  District as
Preferred Location for Puget Sound-Area Consolidation" dated April 6, 2005.


Signature

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                          SAFECO CORPORATION
                                          -------------------------------------
                                          Registrant

Dated: April 6, 2005
                                          /s/ Stephanie Daley-Watson
                                          --------------------------------------
                                          Stephanie Daley-Watson
                                          Vice President and Secretary

EX-99.1

Contact:  Safeco Investor Relations
Neal Fuller, 206-545-5537
Contact: Safeco Media Relations
Paul Hollie, 206-545-3048

            Safeco Selects Seattle's University District as Preferred
                  Location for Puget Sound-Area Consolidation

SEATTLE - (April 6, 2005) - Safeco (NASD: SAFC) today announced the selection of
Seattle's  University  District as its  preferred  location to  consolidate  the
company's Puget Sound-area operations. With the decision, Safeco eventually will
bring together 3,200 employees on one campus.

"After reviewing all the people,  economic and operational factors, we found the
benefits of consolidating in Redmond or Seattle to be roughly  equivalent," said
Safeco  Chairman  and CEO Mike  McGavick.  "So, we chose the  location  where we
believe we can do the greater good. With our selection of the U-District, we are
honoring  Safeco's past and  supporting a community  that has been a part of our
success for nearly 70 years."

Seattle Mayor Greg Nickels called the decision an important moment for the city.
"We are welcoming  millions of dollars of  investment  and 1,600 new jobs to the
city," Mayor  Nickels said.  "This is a vote of confidence  not only in Seattle,
but in all the work we've put into revitalizing this great neighborhood.  Safeco
never gave up on the University District, and neither did we."

Following the sale of Safeco's life and  investments  operations in August 2004,
the company began evaluating options for consolidation.  Today's announcement of
a  preferred  location  represents  the first step in what is  expected  to be a
three-year regulatory and construction process.

To accommodate Safeco's 1,350 Redmond-based employees and an anticipated 250 new
positions  over the next 10  years,  the  company  plans to build an  additional
260,000 square feet of office space around its existing  headquarters complex in
Seattle.  Safeco has been a major business  presence in the University  District
since 1936.

"We hope our planned  investment in the U-District will be a source of pride and
serve as a catalyst  to make the  neighborhood  even more  vibrant,  diverse and
successful," McGavick said.

Safeco's  Redmond  employees  will  continue  working on the campus  there until
construction  in Seattle is  complete  sometime in 2008.  The  company  does not
intend to sell or lease its Redmond property until it is confident the necessary
approvals can be secured to begin building in the U-District.


"The City of Seattle  has been  tremendously  responsive  during our  evaluation
process.  We look  forward to  working  with Mayor  Nickels,  the City  Council,
neighborhood  leaders and others to create a campus that  enhances the work life
of our employees and enriches the community at large," said  McGavick.  "We also
extend our thanks to the City of Redmond for its terrific  partnership  over the
years.  Our  presence on the  Redmond  campus  will  continue  until our move is
complete  in 2008,  and our  contributions  to that  community  will extend well
beyond that time in  recognition  of the many Safeco  employees,  customers  and
business partners who live on the Eastside."

Safeco will make an  official  request to the Seattle  City  Council  later this
month for zoning changes and required permits.

Safeco, in business since 1923, is a Fortune 500 property and casualty insurance
company based in Seattle.  The company sells  insurance to drivers,  home owners
and owners of small- and medium-sized  businesses  through a national network of
independent agents and brokers.

                                      ####



Forward-Looking Information
Forward-looking information contained in this release is subject to risk and
uncertainty.

Information  contained in this release  that  relates to  anticipated  financial
performance,  business prospects and plans,  regulatory developments and similar
matters are  "forward-looking  statements" as defined in the Private  Securities
Litigation  Reform  Act of  1995.  Statements  in  this  release  that  are  not
historical  information are forward-looking.  Our business is subject to certain
risks and uncertainties  that may cause actual results to differ materially from
those suggested by the forward-looking statements in this release. The risks and
uncertainties include, but are not limited to:

o    Risks  related to the pricing and  underwriting  of our  products,  and the
     subsequent establishment of reserves, such as:

     o    Successful implementation of the new-business entry model for personal
          and commercial lines

     o    Our ability to appropriately  price and reserve for changes in the mix
          of our book of business

     o    Our ability to establish appropriate pricing

     o    Inflationary  pressures on medical care costs,  auto parts and repair,
          construction  costs and  other  economic  factors  that  increase  the
          severity of claims

     o    The availability and pricing of our  reinsurance,  including  coverage
          for loss from terrorism and our ability to collect from our reinsurers

     o    Our ability to price for or exclude the risk of loss from terrorism on
          our policies

o    Risks related to our Property & Casualty (P&C) insurance strategy, such as:

     o    Our ability to achieve  premium targets and  profitability,  including
          realization of growth and business retention estimates

     o    Our ability to achieve overall expense goals

     o    Our ability to run off  businesses  that we have exited,  or intend to
          exit in the future, without incurring material unexpected charges

o    Regulatory, judicial and legislative risks, such as:

     o    Our ability to freely enter and exit lines of business

     o    Our ability to successfully  obtain  regulatory  approval of rates and
          underwriting  guidelines,  including price-tiered products and the use
          of insurance scores that include credit information as a component

     o    Interpretation  of  insurance  policy  provisions  by  courts  or  tax
          authorities,  court  decisions  regarding  coverage  and  theories  of
          liability,  trends in  litigation  and  changes  in claims  settlement
          practices

     o    The outcome of any litigation against us

     o    Legislative  and  regulatory  developments  affecting  the  actions of
          insurers,  including  requirements  regarding rates,  taxes, agent and
          broker commissions and availability of coverage

o    The competitive pricing  environment,  initiatives by competitors and other
     changes in the competition

o    Unusual loss activity, such as:

     o    Weather  conditions,  including  the severity and frequency of storms,
          hurricanes, hail, snowfall and winter conditions

     o    The occurrence of significant natural disasters, including earthquakes

     o    The occurrence of significant  man-made  disasters,  such as terrorist
          attacks or war

     o    The  occurrence  of  bankruptcies  that result in losses on  insurance
          products or investments

o    Financial and economic conditions, such as:

     o    Performance of financial markets

     o    Availability of bank credit facilities

     o    Fluctuations in interest rates

     o    General economic conditions

o    Operational risks, such as:

     o    Damage to our  infrastructure or harm to our workforce  resulting in a
          disruption of our operations

     o    Internal or external fraud perpetrated against us