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Seattle Schools Turn Down Old Federal Reserve Building Deal

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Photo: Joe Mabel

A lot of people would tell you that nothing in life is free. In the case of the old Federal Reserve Building, which was offered up as such. Ultimately, Seattle Public Schools got the nod and voted to move forward with plans of turning it into a downtown elementary school. And then they realized that "free" didn't include the $50M+ in renovations and remodeling that would be required to update the building. Citing the lack of money plus the requirement of a 30-year commitment, the school board unanimously voted not to move forward with the six-story, 86K square-foot structure. The school board will continue searching for a downtown option while the building is now available for the next taker. Anyone?
· Seattle board rejects acquiring downtown building for school [ST]
· Seattle's Old Federal Reserve Building Is Free, Who Wants It? [CS]
· Old Fed Building May Become Elementary School After All [CS]