Search
 

Parties Strike Deal on Controversial Development Near Snoqualmie Falls

SNOQUALMIE, WA-All parties concerned appear to be smiling about a complicated deal between developers, government and nonprofit agencies involving over $13 million and several thousand acres of land in and around the Snoqualmie Falls area.

By Janet Parker | Updated on February 15, 2001

SNOQUALMIE, WA-In what Frank Mendazabel of Weyerhaeuser Real Estate describes as “a very intricate deal,” a tentative agreement has been struck between King County, the City of Snoqualmie, Weyerhaeuser Real Estate Co., Puget Western and the Cascade Land Conservancy to protect from development land a piece of land surrounding Snoqualmie Falls. Given the number of players, however, it could be several months before the deal is inked and all facets of the arrangement have been finalized.

The deal’s genesis began when Puget Western, the real-estate subsidiary of Puget Sound Energy, submitted plans for Falls Crossing, 280-home development across the river from Snoqualmie Falls. Plans showed construction within 300 feet of the sensitive falls area on Snoqualmie River, however, and public outcry over the development brought to the table the Cascade Land Conservancy, the nonprofit organization that ultimately brokered the multi-party deal.

The CLC aims to purchase all 145 acres of the forested Falls Crossing property for conservation. To make it happen, in lieu of Falls Crossing’s, Weyerhaeuser is covering the CLC’s cost of purchasing the Falls Crossing Property in exchange for the right to add 268 homes to Snoqualmie Ridge, its 2,000-home planned community on 700 acres along Interstate 90. Completion of the entire development, which also will include retail and office space, is scheduled for 2007.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.