By Meghan Hall
As new jobs and big investment has flowed into Bothell, housing is following suit. In a deal that closed on January 25th, a housing site in Bothell sold for $24 million, according to public records. The sellers of the property were a local family, who had owned the property for a number of years. The buyer of the property was a limited liability company associated with MainVue Homes.
The property included a number of parcels at 3924 Jewell Rd. Records show that the deal included roughly 14 acres of land, most of which is undeveloped. There is a single structure on the land, a single-story building originally constructed in 1938. The property is zoned for single-family residential uses. The land is situated in between Interstate 405 and State Route 9, in a mostly residential neighborhood.
MainVue homes has developed projects in both Washington and the State of Texas. According to the company’s website, it has developed 10 projects in Washington, not including its latest Bothell site. MainVue’s specific plans for the Bothell property are still unclear.
MainVue’s acquisition of its Bothell property follows on the heels of another single-family deal. In December, KB Home purchased land in Puyallup, Wash., for $27.65 million. A marketing flyer obtained by The Registry shows that the acreage includes 162 lot plats, and preliminary approvals and engineering for the site has already been completed.
Demand for housing has surged in recent months, and Redfin reports that in Seattle, home prices rose 4.8 percent during December of 2021. The market remains one of the most competitive in the country, and homes sold after just 12 days on the market. Homes often get multiple offers, and many offers now also include waived contingencies.