Business office remodel is expected to cost $10 million for a single-room apartment and $4 million for three-bedroom units, according to a memo by a Seattle-based remodeling firm.
The firm said it will charge $4,000 for a two-bedroom, $1,200 for a three-bedroom and $1.5 million for an apartment.
It is not clear how many apartments are planned for the building, which is owned by Seattle-area real estate broker The North Star Real Estate Group.
The memo was dated April 9 and sent to tenants in the office building, according a person familiar with the matter.
The building is currently vacant, the memo said.
The memo did not disclose a potential location.
The office remodels, expected to be complete in 2019, will allow for more spacious offices and also help offset some of the city’s cost of living increases, the firm said.
“We’re excited to be able to provide the building owners with more affordable housing,” Kevin Brown, president and CEO of The North Stair, said in a statement.