A vacant Seattle office property has been acquired for conversion into multifamily housing.
Stream Real Estate, a Seattle-based developer and investor, has paid $7 million for Queen Anne Plaza, a four-story office building. The Seattle Times reported the company plans to renovate the property to accommodate 68 one- and two-bedroom apartments, along with a small “urban farm” in the outdoor amenities area. A fifth floor will be added to the property as part of its conversion.
Queen Anne Plaza is located across from the Climate Pledge Arena, which hosts the National Hockey League’s Seattle Kraken and the Women’s National Basketball Association’s Seattle Storm. The property has been vacant since 2022 and this will be the first time that a Seattle office building is being turned into a multifamily housing complex.