NAI Cascade broker, Jeff Reed, owns and represents several parcels in the Elbow and is a member of the SEAPAC Advisory Committee. As such, he is our resident “SE Elbow expert.” He weighed in on the latest developments in SE Elbow:
Development in this 479 acre expansion area will start from the top down. North Peak Development put 17 acres of RH (Residential High Density) and RM (Residential Medium Density) land into contract in 2021 which borders Ferguson Rd. They expect to close by the end of the year. Pahlisch Homes is well into their development of the master planned Easton neighborhood which includes residences, retail, swimming pools, parks, green spaces, paths, and much more.
Adjacent to the Elbow is the Stevens Ranch Master Planned Development. Plans for this 375.4-acre Major Community Master Plan, are well underway and include a mix of residential and commercial uses, including approximately 237 acres of residential plan designations with an elementary school site and parks and open space as well as approximately 46 acres of commercial plan designations, and approximately 93 acres of industrial plan designations, including one large 50-acre industrial lot.
The expectation is that the city will start sewer improvements on Ferguson Rd. late this summer. Once developers bring infrastructure off Ferguson Road, the interior parcels have a clear path to begin development in the Elbow. The additional interior lots that are currently on the market will be more valuable at that point as well.