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February 2, 2023

Intracorp nabs rezoned former Bally property in Federal Way

By BRIAN MILLER
Real Estate Editor

The new zoning allows townhouses, but not midrise density.

A future residential development site at 32818 First Ave. S. recently sold for $4.7 million, according to King County records. The seller was First Avenue South Apartments LLC, associated with Weidner Apartment Homes, which acquired the property in 2015 for $1.5 million. That was a few years after the already troubled Bally fitness club chain went into its second bankruptcy proceeding, and eventually liquidated. The gym then operated as LA Fitness until 2011.


 
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