King County recently acquired the Red Lion Hotel in Renton for $36.2 million, equating to approximately $161,607 per room. According to the Puget Sound Business Journal, an entity connected with Dayabir Bath and Renton Hotel Investors LLC was the seller.
Situated on 5.16 acres at 1 S. Grady Way in southwest Renton, this six-story hotel boasts 224 rooms and spans over 61,200 square feet of space. The county had been leasing the property since early last year as a temporary shelter during the pandemic but it has remained vacant since June of this year.
Despite paying a monthly lease fee of $330,000 for several months now, King County ultimately decided to purchase the hotel instead through its Health Through Housing program which aims to address homelessness by repurposing existing buildings such as hotels.
The sale also included furniture and accessories worth about $200
