As Albertsons Companies moves ahead with plans to scrap the old Safeway in Queen Anne and build a larger urban-concept store with multifamily housing units on top, it appears the Magnolia Albertsons is slated to receive its own similar redevelopment.

“At this point, we are exploring the opportunity to improve the store at that location but don't have any information to share at this time,” writes Sara Osborne, communications director for Safeway and Albertsons - Seattle Division.

A building and land use pre-application has already been submitted to the Seattle Department of Construction and Inspections calling for 223,000 square feet of new construction on a six-story project at 2550 32nd Ave. W. that would include 146 apartment units and is being valued at $41 million. Local development company Security Properties and Bumgardner Architects are attached to the project, according to public records.

A draft Early Design Guidance packet has also been submitted, but the land use application still needs to be completed, said SDCI spokesperson Wendy Shark.

The project also proposes two levels of below-grade parking with 212 stalls. The Alberstons store currently has 53 parking spaces.

This article will be updated when Albertsons Companies decides to be more transparent about its plans.

The redevelopment was first reported by the Seattle Daily of Commerce.