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.