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June 30, 2022

Federal Way development site sells for $13M

FEDERAL WAY — An unaddressed, nearly 22-acre tract housing site in Federal Way recently sold for just over $12.9 million, according to King County records. The seller was Edgewood Terrace Estates LLC, which acquired the unimproved land in 2020 for almost $5.7 million.

The buyer was Woodlands at Redondo - Federal Way LP, which is associated with California homebuilder Heartstone. DR Horton also has a separate $2.8 million stake in the land, acquired from the same seller.

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