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September 20, 2023

Prospera pays over $5M for Yesler Terrace hotel site, revised MUP coming

Real Estate Editor

Rendering by Johnson Braund [enlarge]
The developer has reduced the project size by about 25%. This view looks north, as if from Yesler Way.

There is no master use permit, yet, but the vacant land has changed hands at 718 Yesler Way. Seattle Housing Authority sold the site, in a previously unreported deal, back around Memorial Day. For years now, CBRE has been the authority's broker through the ongoing redevelopment of the 30-acre Yesler Terrace campus. The latest deal was worth about $188 per square foot.

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