SEATTLE — Seattle Mayor Jenny Durkan is announcing the sale of a huge block of city property with the proceeds going to support affordable housing.
On Wednesday, Mayor Durkan said the city is getting $143 million for 2.86 acres of land nicknamed the "Mercer Mega Block."
It's located between Aurora Avenue North, Roy Street, 9th Avenue North and Mercer Street.
The land itself is selling for $138 million and buyer Alexandria Real Estate Equities is contributing another $5 million to support strategies addressing homelessness.
Plans call for an apartment tower with 175 affordable housing units and two office towers for companies focused on life sciences.
There will also be a 30,000-square-foot community center operated by Seattle Parks and Recreation.
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