Bellevue homebuilder purchases Issaquah Highlands lots
May 23, 2011
By Warren Kagarise
NEW — 1:15 p.m. May 23, 2011
Taylor Development, a Bellevue-based real estate firm, is joining Issaquah Highlands developer Port Blakely Communities to foster development in the Harrison Street neighborhood, a ritzy collection of custom homes perched on Grand Ridge.
Taylor Development has purchased 48 lots in the neighborhood, and plans to work alongside custom homebuilders and homebuyers to complete the neighborhood. The companies announced the deal Monday.
“Issaquah Highlands is among the Northwest’s premier communities and the acquisition of a large number of home sites in the highly desirable Harrison Street neighborhood represents a key opportunity for Taylor Development,” company President Kevin Taylor said in a release.
The neighborhood includes about 90 home sites — 35 have been sold, including 24 completed or under-construction.
The acquisition is part of a series of construction projects planned, completed or in progress for the highlands.
Construction in the highlands is proceeding on a Swedish Medical Center campus, a $30 million apartment complex, a YWCA residential complex and the zHome eco-conscious townhouses.
In addition, Pulte Homes plans to break ground on a $20 million, 5.86-acre residential project in June. Polygon Northwest is poised to announce plans for a home project in the months ahead.
Port Blakely estimates the projects generate almost $475 million in construction activity and about 1,500 jobs in the region.
“Taylor Development brings fresh energy and enthusiasm to Issaquah Highlands along with a record of successful projects along the I-5 corridor,” Port Blakely Communities President Rene Ancinas said. “Together, our companies share a commitment to ensure continuity of the neighborhood’s character, high design and quality standards neighbors have come to expect.”