Former military homes at Fort Lawton in Seattle’s Discovery Park stand to net developer over $10 million profit

Home in Montana Circle

In February 2015, the US Navy and a subsidiary of Cleveland-based Forest City Enterprises sold the historic homes at Fort Lawton for $10.5 million to Rise Properties Trust, a Canadian based firm that invests in Seattle area real estate.

You won’t believe what my realtor sent me

Kevin - congratulations! You have been in your condo for six years as of June 30! Just closed on a unit in the other stack for less than you paid. Crazy market!  Did the building next door take away your view? Hope all is well.  Congrats! Roger.

In 2014, I celebrated six years in my condominium in the Belltown neighborhood of Seattle.  I purchased my condo in June 2008 for $327,000, not long after the US entered a severe recession due to the bursting of the housing bubble in mid-2007. At the time, I thought it was an ideal time to buy since housing prices had already started plummeting and the US government offered a first time home buyer credit, which would make the purchase price more affordable.  Although housing prices had started to decline, I knew that historically inflation adjusted housing prices had climbed steadily since at least 1970 and housing seemed like a safe investment. I also figured that rents were only slightly less than a monthly mortgage payment, so I would be better off buying.