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February 7, 2015 at 5:34 PM

Seattle loses bid to put downtown school in federal building

Seattle Public Schools lost its bid Saturday to buy a vacant downtown building for a school.

The former Federal Reserve Building, a 90,000-square-foot structure, at Spring Street and Second Avenue, has been vacant since 2008.  In a Tweet, school officials said, “Confirmed: the district did not win auction for former Federal Reserve Building re: downtown school.”

Officials said they would be available to the media Monday.

School-district leaders expected that if they won the online auction, it would have cost about $53 million to renovate the building into an elementary school for a growing number of downtown kids. The building is listed on the National Register of Historic Places.

According to the General Services Administration website, the winning bid was $16 million. The bidder’s identity has not been disclosed.

Comments | More in Education | Topics: auction, downtown school, Federal Reserve Building

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