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Seattle to Sell Land Steps From Amazon for Offices and Housing

  • Alexandria Real Estate to buy city property for $138.5 million
  • Site has been flashpoint in local debate over housing costs
Seattle, Washington
Seattle, Washington

Seattle is poised to get a new $1 billion development steps from Amazon.com Inc.’s sprawling urban campus as part of a major land sale by the city. 

Alexandria Real Estate Equities Inc. agreed to buy the nearly 3-acre Mercer Mega Block from Seattle for $138.5 million, Mayor Jenny Durkan announced Wednesday, in the largest real estate transaction ever for the local government. The development is slated to include two new office buildings, a community center and an apartment tower with at least 175 affordable units.