A deal has been reached between the owners, a developer and two nonprofits on a valuable piece of property in Seattle’s Central District.
Lake Union Partners has agreed to buy the old Midtown Center property on 23rd Avenue and East Union Street for $23.25 million.
The property is one of the last full blocks of undeveloped land in the city and lies at the historical heart of Seattle’s black community.
Lake Union Partners plans to sell 20 percent of the block to land conservancy group Forterra, which is serving as an “interim purchaser” for Africatown, a nonprofit focused on community development in the Central District.
“Our goal is to see the sustainable and engaged community project that Africatown has articulated,” Forterra Executive Vice President Michelle Connor said.
Connor says Forterra will provide resources and infrastructure, while Africatown will ultimately decide what goes into their parcel and what it will look like.
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