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December 24, 2019

Kirkland site sells for $40M, with 850 units and retail planned

By BRIAN MILLER
Real Estate Editor

Rendering by MG2 [enlarge]
Madison Development Group hopes to break ground on the major mixed-use project in early 2021.

An old shopping center at 12040 N.E. 85th St. in Kirkland's Rose Hill neighborhood has sold for $40 million, according to King County records. The buyer was Rose Hill Development LLC, associated with local firm Madison Development Group. As the DJC first reported last year, MDG is planning to redevelop the nearly 7 acres near Costco with about 850 apartments over retail and underground parking.


 
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