More homes on the way at Tehaleh after land deals made with two separate builders
Land sales totaling more than $25.1 million will bring more homes to the Bonney Lake-area Tehaleh development.
Three transactions totaling 91 parcels were recorded May 22-24 between a Brookfield Properties/Tehaleh-affiliated LLC and two different builders.
Brookfield Properties acquired Tehaleh master plan developer Newland Communities in 2021.
Richmond American Homes of Washington purchased 56 parcels for a combined $15.4 million in two transactions, while Holt Holdings WA LLC of Vancouver, Washington purchased 35 parcels for just over $9.7 million.
According to documents filed with Pierce County recording the sales, the parcels are for the construction of homes in Glacier Pointe at Tehaleh.
Glacier Pointe plans started to take off early last year, following the purchase of more than 150 parcels by an LLC affiliated with home builder Shea Homes Washington from an LLC affiliated with Brookfield Properties for $28.2 million.
Richmond American advertises new homes at Tehaleh on its website, priced between around $800,000 and $1 million. Its “paired homes,” or duplexes, start at around $500,000.
Holt Holdings, affiliated with Holt Homes, is a new addition this summer to the Tehaleh roster of builders. Holt lists its real estate at Glacier Pointe as “coming soon.” The builder notes that its work at Tehaleh is its first Puget Sound-region project.
The bulk of Holt’s developments are in Southwest Washington and Oregon.
Earlier this year, Marita Benedict, Pacific Northwest marketing director of land and housing development for Brookfield, told The News Tribune in response to questions via email that 304 home sales are expected at Tehaleh in 2024.
On Wednesday, Benedict told The News Tribune in response to questions there is another builder under contract to buy parcels, but the deal is not yet closed.
She added that there are almost 20 model homes on display now.
The Richmond American/Holt parcel sales were first reported by The Registry real estate monitoring website.
News Tribune archives contributed to this report.
