Grand Street Commons site sells for $20M; polluted property to become 700 Rainier Valley units

About 3.2 acres in the Rainier Valley sold last Friday for almost $19.9 million, according to King County records. The sellers were four LLCs representing the Centioli family and others. Jason Rosauer and Rob Anderson of Kidder Mathews were their brokers.

The buyer was Grand Street Commons LLC a new venture among Mt. Baker Housing Association, Lake Union Partners and HAL Real Estate. A press release accompanied the sale and provided details.

The site comprises 16 parcels arranged in three chunks at South Grand Street and Rainier Avenue South. There's no official project address yet. The site a few blocks south of the Judkins Park Station, at Interstate 90, where light rail service will begin in 2023. It's zoned up to 65 feet now, with an anticipated upzone to 75 feet under the Housing Affordability and Livability Agenda (HALA).