Yet another Seattle apartment building is in development, and this time it is taking over what could have been a small neighborhood park in the Central District. According to the Puget Sound Business Journal, Spectrum Development Solutions bought the property located at 1023 E Alder Street for just over $2.2 million, and plans to build an 84 unit apartment building on the land. The City Parks department had attempted to absolve the property for a pocket park, in a neighborhood which currently only has one small open space, Horiuchi Park.
Spectrum has since received the nod of approval from Ed Murray to move forward with the building development, squashing further disputes between Spectrum and the City Parks Department. In an area that could use more open spaces, the Central District currently has 3 apartment projects planned by Spectrum in various phases of development, but this is certainly becoming commonplace around other urban areas of the city. More people are moving in, and new housing options are needed to accommodate population growth. One of the goals presented by the City is to have two acres of parks in this area by 2024, stay tuned for further updates. For more information on Seattle real estate, contact your local real estate agent today.