Puget Sound Business Journal: Developer buys Midtown Center, partners with African-American community on 550-apartment project

Puget Sound Business Journal
By: Marc Stiles

Seattle’s African-American community has secured a big role in the redevelopment of one of the city’s last hubs of black-owned businesses.

Lake Union Partners on Tuesday acquired Midtown Center, a retail center at the rapidly developing Central District corner of 23rd Avenue and East Union Street, for $23.25 million

In a pioneering move, the Seattle real estate company is partnering with land-preservation nonprofit Forterra and a group called Africatown Community Land Trust on a six-story development with around 550 apartments and commercial space. Nearly half of the new apartments will be affordably priced.

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