By Kate Snyder
Several parcels of vacant land in Renton have been bought up by a development firm based in the Puget Sound region. Five parcels totaling approximately six acres traded hands for $10.3 million, according to King County public records. The buyer was an entity affiliated with Blue Fern Development in Redmond, and the seller was an entity affiliated with Dalpay Properties LLC in Tukwila.
Located at and around 3924 NE 12th St., the three largest parcels are broken down into three-, 1.2- and 1.1-acre lots. The remaining sites total one half and one fifth of an acre, property records show. The cluster of parcels sits in the northeast corner of the city and is surrounded mostly by other residential developments but also local shops and restaurants off Sunset Boulevard NE.
Blue Fern is a family-owned land development company specializing in infill townhome development in Seattle, according to the firm’s LinkedIn page. The company has its own in-house general contractor, Teak Construction, and focuses on urban growth through infill by actively investing in neighborhoods throughout Seattle. Additionally, Blue Fern is actively buying property in all cities and neighborhoods of the greater Seattle metropolitan area. The company also buys permitted sites or sites at various stages of entitlements. Blue Fern Homes is the homebuilding arm of the company.
Dalpay Properties shares an address with an accounting firm and is associated with James Dalpay, Jr., and Thomas Dalpay.
Vacant land has been the subject of several sales transactions throughout the Puget Sound area recently.
One such deal occurred last month in nearby Newcastle. The land in that sale totaled 33 parcels and multiple acres along 121st Pl SE on the city’s west end, and the purchase price was $30.6 million, according to previous reporting from The Registry. The buyer was an entity affiliated with MainVue Homes, a homebuilder with offices throughout Washington. The seller was an entity affiliated with a Seattle-based builder, SeaLevel Properties.
