Goodwill Property to Become 172-Unit Apartment Complex

The Belmont Ave E store site will be redeveloped into an 8-story building to help meet professional housing demand in Seattle.

Updated on Oct. 15, 2026 in Commercial

Isometric editorial illustration of a modern multi-story apartment building model, depicting urban housing development. — Professional Community Partners purchased a Belmont Ave E property for $13 million to develop a 172-unit apartment complex in Seattle. AI Illustration. Upload story photo >

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PCP has purchased the Goodwill property on Belmont Ave E for $13 million with plans to replace the store and an adjacent residential building with an 8-story apartment complex. The proposed development adds 172 housing units to the area.

Why it matters

This project signals a push to accommodate demand from professionals working in the nearby First Hill medical hub and downtown Seattle. It comes as Seattle faces a market where total construction starts have fallen 80% from their historical peaks.

PCP purchased the 22,551 square-foot Belmont Ave E site for $13 million, planning to replace the current Goodwill store and a 4-unit residential building with a new 8-story, 172-unit complex. The permitting process, which includes civil engineering and design review, is projected to take 18 months.

The players

PCP

A real estate developer active in Seattle currently pursuing large-scale mixed-use projects at both the Belmont Ave E site and the former Starbucks Roastery location.

Goodwill

A non-profit organization that operated a retail store on the Belmont Ave E property since 2014 before the site was sold for development.

Starbucks

A multinational coffee company that previously operated a notable Roastery site at Pike and Melrose before closing the location in September 2025.

The details

The developer intends to clear the site to make way for high-density housing that targets professionals in the medical sector. The proposed building project must navigate the City of Seattle Master Use Permit review, a comprehensive process covering zoning, SEPA compliance, and design standards. This shift aims to capitalize on an improving Seattle economy despite the significant recent downturn in local residential construction starts.

Spring 2014: Goodwill store opened on Belmont Ave E.
September 2025: Starbucks closed the Roastery site.
October 2026: Property sale reported.
Upcoming 18 months: Projected duration for the Master Use Permit review process.

The Home Front

This project represents a high-density attempt to address local housing inventory challenges in an environment where construction starts have plummeted 80% below historical peaks. The redevelopment follows a broader trend of repurposing commercial real estate in Capitol Hill to serve the downtown workforce.

Residents should anticipate long-term changes to local traffic and parking patterns surrounding the Belmont Ave E block throughout the upcoming 18-month permit phase. Property owners in the Capitol Hill area should track the progression of this and the nearby Roastery project to monitor local neighborhood density trends.

The takeaway

Large-scale redevelopment in Seattle remains focused on high-density units targeted at professional commuters. Keep an eye on local city public notices regarding Master Use Permit hearings for this site to stay informed on construction impacts.