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Multifamily Parcel On Block at Significant Discount

SEATTLE-The project, called Rosemont, estimated to be $60 million when it was started about three years ago, is being offered for sale at $6.5 million.

By Natalie Dolce | Updated on September 23, 2011

SEATTLE-The Andover Co./CORFAC International has been awarded the listing to market a 47-plus-acre land parcel that is fully entitled for the development of 737 multifamily homes here in Frederickson, WA. The property, which is comprised of five parcels, is offered for sale at $6.5 million or $8,820 per door, and is located five miles north of Joint Base Lewis-McChord.

A preliminary plan has been approved for 737 townhouses and apartments, with concurrency for water, sewer and traffic. The proposed four-phase development would include 20 three-story apartment-style buildings and 33 townhouse buildings.

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