Company auctions 46 acres near Lake Sammamish
July 17, 2012
Land near Lake Sammamish is up for auction, as a Seattle-based real estate auction company markets 46 acres.
The undeveloped site — once owned by the Weyerhaeuser family — is the focus of interest from developers, investors, conservation organizations and recreation groups. The parcel contains open space and forest.
The land is across the street from Lake Sammamish State Park, between Issaquah and Redmond. The parcel is zoned for single-family suburban development. Environmental rules and a conservation easement limit the developable area to 4.8 acres.
“A year or two ago, there would have been very little interest in this property, despite the outstanding location,” auction manager Paul Thomas said in a statement. “Today, in contrast, we’re only halfway through the marketing campaign and already our website has had over 11,000 hits. This level of interest would seem to indicate that at long last, the real estate market really has turned the corner.”
The company expects the winning bid to reach the mid to high six-figure range. The live auction is scheduled to occur Aug. 8 in Issaquah. Learn more about the parcel and the auction at www.nwauctions.com.