Bid fell through on 38 acres zoned for multi-family housing
The sales of four of the five parcels of Pasco land auctioned by the Washington Department of Natural Resources in the fall have closed.
A 38-acre parcel zoned for multi-family housing and appraised for $1.2 million did not close.
The four parcels, appraised at $4.3 million, went for almost twice that amount at $8.1 million, said Bob Redling, the DNR’s public information officer for state lands, timber sales, land transactions and agency business.
“It brought in a very good amount,” he said.
The DNR auctioned 230 acres of prime real estate in November just south of Interstate 182 between roads 68 and 84 and Argent Road, and north of Chiawana High School.
“We can’t just sell land. It’s public auction only,” Redling said. “And the state Constitution sets the limit of selling no more than 160 acres to someone.”
But the land was subdivided to get around that.
By the time the auction —run by Musser Brothers – ended, Pasco’s Fawn and Rosa Rupp had bought Lot 2 (102.72 acres) for $4.2 million and Lot 4 (38.9 acres) for $1.6 million.
Richland’s Harold Alexander and his 7HA Family company bought Lot 5 (30.05 acres) for $1.2 million.
Kennewick’s Ron Asmus won the bids for Lot 1 (37.86 acres) at about $2 million and Lot 3 (21.47 acres) at $1.1 million.
But Redling said only Lot 1 which is zoned multi-family did not close.
“We are considering our options in how to approach selling the remaining lot,” Redling said.
Asmus did not return Tri-Cities Area Journal of Business phone calls or emails seeking comment.
Redling said lots 2 through 5 are zoned residential by the city of Pasco, “but what the ultimate plans would have to be confirmed with the new land owners.”
“I’ve seen plans for access roads, multi-family,” Redling said. “There’s a (possible) school-area plan.”
But the other new buyers are keeping their plans close to the vest right now.
“Maybe check back in a week,” said Rosa Rupp. “Right now, we don’t have anything to report.”
Alexander said his lot is planned for a subdivision, and he isn’t worried about a lack of infrastructure.
“Argent Road is right there, and water is available. It’s been short platted,” he said.
And according to Redling, it’s the last land available from the DNR for a while.
“DNR currently has no other properties in the area for sale,” he said.
It’s the second time the land has been on the auction block. No buyers stepped up to buy it in 2015 because the land may have been priced too high, officials said. The minimum acceptable bids then ranged from $512,000 to $2.66 million, but the 230 acres were divided into nine parcels compared to five parcels this time around.