By Jack Stubbs
It seems that land in the Puget Sound region is at a premium, and nearly four acres in Snohomish County were recently acquired by a local homebuilder for over $10 million.
On Thursday, June 14th, RM Homes, a homebuilder based in Puyallup, acquired nearly four acres of land in Bothell for $11.4 million, according to public records filed with Snohomish County. The seller was Bellevue-based Taylor Development Inc., a commercial and residential real estate developer. The transaction was recorded on June 21st.
Neither the buyer nor the seller responded to calls or emails for comment in time for the publishing of this story.
The transaction involved the sale of three parcels of land located at 22307, 22303 and 22219 9th Ave. SE that total 3.93 acres, according to public documents. The first parcel comprises .54 acres of vacant land, while the second parcel totals 1.17 acres and includes a two-story dwelling constructed in 1979. The third parcel comprises 2.22 acres of vacant land.
The three-parcel property is approximately 3 miles north of Bothell and five miles east of Mountlake Terrace. The property is also less than one mile from Canyon Park Place—a 125,616 square foot shopping center located along the Bothell-Everett Hwy.—and the intersection of Washington State Route 527 and Interstate-405.
It is not yet clear what plans RM Homes has for the acquired parcels of land, although the company has extensive experience building homes in the Puget Sound region. According to the company’s web site, Ryan McGowan and his team have built over 2,500 homes in the Puget Sound area since 1998. Some of the company’s properties in the region include the Cedar Park property in Bothell; the Damson Crest in Lynnwood; and the Kinkade Crossing in Renton.
Founded in 1993, Taylor Development has developed over $750 million in commercial and residential real estate in the greater Puget Sound region since the company’s inception, according to its web site. Some of the company’s in-the-works projects include Cedar River Apartments, a 212-unit property in North Bend; the Highbridge Estates in Monroe, which includes 34 single-family lots with preliminary plat approval; and the Taylor Union Hill property in East Redmond, which comprises 60 acres of undeveloped and.
Taylor Development has been in the news in recent months. On March 9th, the company acquired three parcels of land in Bothell—which included three research and development buildings totaling approximately 150,000 square feet—for $21.5 million from Seattle-based Immunex Corporation.