By Alex Girda, Associate Editor<\/p>\n
<\/p>\n
The site of a scuttled $200 million mixed-use development in the Woodinville wine district is heading for the auction block. Located on a 24-acre site at the intersection of Woodinville-Redmond Road and Highway 202, the project proposed by MJR Development called for a 150-key boutique hotel, a 260-unit residential component, four wineries, office space, restaurants and retail. MJR intends to use proceeds from the sale to help retire a $24 million debt incurred by the project.<\/p>\n
Woodinville city officials are eager to see another developer committed to developing the site, which city manager Richard Leahy told the Puget Sound Business Journal<\/em> is centrally located in the city\u2019s tourist district. A successful project would build on successes like the recent expansion of a nearby shopping center and the steady growth of the local winery industry, which now tallies some 80 wineries.<\/p>\n Meanwhile, in downtown Seattle, the market for upscale condos and townhomes is awaiting a much-needed surge in interest, with a series of properties priced at $1.1 million to $5 million remaining vacant. However, with the market appearing to be on the verge of an upswing\u2014at least compared to the recession-scarred last few years–buyers\u00a0from out of state and even overseas are scouting availabilities. The Business Journal<\/em> cites a comment from a broker at Realogics Sotheby\u2019s International Realty, who suggested that a spike in interest is closer than many observers believe.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" By Alex Girda, Associate Editor
\n
\nThe site of a scuttled $200 million mixed-use development in the Woodinville wine district is heading for the auction block. Located on a 24-acre site at the intersection of Woodinville-Redmond Road and Highway 202, the project […]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1610],"tags":[],"class_list":["post-1004052306","post","type-post","status-publish","format-standard","hentry","category-latest","category-seattle"],"acf":[],"yoast_head":"\n