Home Commercial Lennar Closes on 32-Acre Property for $13.5MM Near Lake Stevens, Wash.

Lennar Closes on 32-Acre Property for $13.5MM Near Lake Stevens, Wash.

By Meghan Hall

Lennar Corporation has closed a deal on a large swath of land in Lake Stevens, Wash., as it prepares to break ground on a new subdivision. According to public documents, Lennar purchased 32.68 acres from a Lake Stevens-based LLC for $13.5 million. The transaction just closed on Friday, June 5th.

The parcels purchased are located at 910 123rd Ave. SE, and 811 and 827 Rhodora Heights Road. Google Maps indicates that the property, while mostly vacant, is developed with several single-family structures. The property is surrounded by single family neighborhoods and is within a few minutes of Lake Stevens.

While it is unclear exactly how the property will be redeveloped, Lennar is working on two other communities near Lake Stevens, on the opposite side of State Route 9. The first is Whiskey Ridge: a community that will include 29 homes that range in size from 1,880 square feet to 2,438 square feet. Pricing for homes starts in the $400,000 range.

The second community is Lennar’s Autumn Vista community, which is now selling. The 138-home subdivision includes homes ranging from 1,836 to 3,584 square feet. The community includes ten different floor plans. Pricing also starts in the $400,000 range, an HOA fees sit at $84.

Lennar has also been active elsewhere in the region, announcing last week that LMC, a wholly owned subsidiary of Lennar Corporation, kicked of construction on LMC Marymoor, a luxury mixed-use apartment complex north of Marymoor Park in Redmond, Wash. The three-building community will include 450 apartments, ranging from studios to three bedrooms, as well as 37,000 square feet of retail space. Amenities include a sky lounge, pool and hot tub and sports areas. Lennar purchased the parcels for the development in December of 2019 for $22.46 million.

Since its founding in 1954, Lennar has built homes in 21 states and in 77 markets according to its website. The developer also has completed projects in Everett, Seattle, Renton and Milton, among other locations.