Daniels Real Estate Buys First Hill Site For Multifamily Development
Daniels Real Estate inked a deal to acquire 800 Columbia St in First Hill, where it plans to develop a 30-story residential property. The seller was Swedish pension fund Alecta, which has owned properties in First Hill since the worst of the recession.
The 284-unit project will be designed as condos, but could be for-rent apartments, reports the Puget Sound Business Journal. Pending city approval, Daniels wants to start work on the property next year. [PSBJ]