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July 22, 2022

$26M land sale for 80 future Bel-Red units

By JOURNAL STAFF

BELLEVUE — Plans emerged from Pulte Homes over two years back for a Bel-Red property at 1723 127th Ave. N.E. Pulte has shifted since then to an 80-unit townhouse plan. (A midrise condominium was also considered.) The land sale came this week, according to King County records. Pulte paid a little over $26 million for 4.1 acres. That works out to around $145 per square foot.

The seller’s brokers were Newmark’s Kevin Shannon, Ken White and Tim O’Keefe. The seller was Umbrella Development LLC, associated with local investor/developer Ken Woolcott. He acquired the former Pacific Topsoils property in 2018 for a bit over $14 million.


 
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