Just a quick update on the Seattle Bubble interactive stalled / slow development map.
So far readers have contributed 48 stalled and/or slowed residential developments in the greater Seattle area. The greatest concentration by far is in the Bothell area, which may be due primarily to the fact that that’s where a few especially prolific contributors live (including myself).
Again, anyone can contribute to this map, just load it up in Google and add the stalled / slowed residential construction sites (SFH or condo) near you.
In related news, Eric Pryne over at the Seattle Times has a story up today about one of the larger stalled developments in the Bothell / Kirkland area that has been foreclosed on: Seattle-area homebuilder losing projects to foreclosure .
One of the Seattle area’s most prominent homebuilders has lost most of one new Eastside housing development to foreclosure, and expects to lose another big property.
Most of Conner Homes’ upscale, partly built Bentley subdivision in Bothell was sold at auction last month after the company defaulted on a $24.8 million loan, county records indicate.
Another auction has been scheduled in October for 35 acres Conner owns and once planned to develop in North Bend. The builder hasn’t made loan payments on that land since at least December, according to a foreclosure notice filed with the county last week.
For anyone interested, I pulled the foreclosure notices off the King County Records website. Here’s the foreclosure notice for the Bothell / Kirkland development (pdf), and here’s the one for North Bend (pdf). I guess someone forgot to tell Conner Homes that the bottom was in February.
Below is the current stalled development map. Please feel free to keep adding to it. FYI, I’m planning on doing a bit of a redesign to the site in the not-too-distant future, after which features such as this map will have a more accessible permanent home.
View Stalled/Slow Seattle Construction in a larger map