$25m for First Hill block

Virginia Mason Medical Center is paying $25 million for a site at Madison Street and Boren Avenue on Seattle' First Hill, according to the Seattle Times, which cites the price as evidence of the booming real estate market. The article describes the site and its potential uses:

The property, at the northwest corner of Boren Avenue and Madison Street, includes the Chasselton Court Apartments, neighborhood shops and eateries and a parking lot. It's zoned to permit high-rise residential or commercial development, and located on a hillside near I-5 that would afford great views for the top floors.