Using a sharp paring knife, peel the apples and slice them into thin slices (about 1/4 inch thick). Toss them in lemon juice to prevent browning.
Prepare the sauce by combining water, sugars, cornstarch, and apple pie spice in a medium saucepan. Bring the mixture to a boil over medium-high heat, stirring often. Boil until mixture is thickened, about 2 minutes.
Reduce heat to simmer, stir in the sliced apples and cook until the apples are softened, about 6-8 minutes.
Remove from heat, gently stir in the butter, and transfer to glass jars to cool. Once cool, cover and refrigerate until ready to use.