Looking northwest from North Queen Anne Hill toward Magnolia, Salmon Bay, and Ballard, Seattle, Washington, April 11, 1914 (LEE 169)

Shows Fishermen's Terminal at center right . On front of image: "2257 Salmon Bay. 4-11-14"
Subjects (LCSH): Salmon Bay (Wash. : Bay); Ballard (Seattle, Wash.); Magnolia (Seattle, Wash.); Fishermen's Terminal (Seattle, Wash.); Sawmills--Washington (State)--Seattle; Lumber-yards--Washington (State)--Seattle; Shilshole Bay (Wash.)

Despite the title & description from University of Washington Libraries, this is not looking "from Magnolia", it's from North Queen Anne Hill, just up the hill from the present-day Ballard Bridge.

The building here and the dock to its right are an early incarnation of Fishermen's Terminal, which first opened as a Port of Seattle facility January 10, 1914 (though the name was not yet official at that time). The entire facility has been completely rebuilt at least twice since that time. The arm of Salmon Bay at left is now (2019) largely filled and is the site of numerous Fishermen's Terminal buildings; to the right of that is the area where the boats & ships are docked or moored at Fisherman's Terminal. The other side of that body of water is Magnolia.