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
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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.