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News and Notices

City of Auburn finalizes purchase and sale of two downtown key development parcels in the Station District on S. Division St.

The Auburn City Council at its regularly scheduled meeting on Oct. 7, via Resolution No.  4999 completed their due diligence to clear the path for the purchase and sale of the SE & SW blocks of Division St. in downtown Auburn to Teutsch Partners LLC. The sale price of the two blocks is estimated at $1.75 million.

Teutsch will be developing the properties with mixed-use residential and retail that will complete the six block catalyst area in Auburn’s downtown. Construction is slated to begin in the first half of 2014.

“Our city council began their visioning process for our downtown 10 years ago,” said Auburn Mayor Pete Lewis. “This unanimous vote affirms their vision to revitalize our downtown.”

In order to prepare Auburn’s downtown, the City received a $2.2 million Federal grant from the Economic Development Administration and a $7.2 million local revitalization bond that upgraded streets, sidewalks and utilities to support modern construction. State Representative Pat Sullivan was instrumental in helping the City secure funds for this project.

“When we finished the promenade in 2012, this is exactly why did it,” said Deputy Mayor Nancy Backus who chairs the City’s Planning and Development Committee. “ We worked hard to find the funding for that project to upgrade the infrastructure to attract the type of development that we can be proud of and that will have an impact.”

According to Economic Development Manager Doug Lein, the City’s commitment to rebuild infrastructure is key to current upswing in Auburn. “Our City Council’s oversight through our economically challenging times is what made it possible to be ready for the marketplace and is allowing us to attract well-established and capitalized developers like Teutsch and Landmark.”

City officials estimate the new developments in downtown will result in 300-500 new residents in the downtown core and over 100,000 square feet of retail space. John Walker of Teutsch and Brett Jacobsen of Plan A Development were both on hand to thank the city council for their support.

Groundbreaking for the Plan A Development/Landmark Development groundbreaking on West Main St. will take place on Thursday, Oct. 10 at 2 p.m. The first of the three developments to get underway will  be a five-story mixture of retail on the base facing West Main Street and four floors of a high end finish, high quality, market rate apartment community. The building is scheduled for completion in summer 2014.

About Teutsch Partners, LLC

Teutsch Partners, LLC was formed in 1987 as a privately owned, regionally focused, commercial real estate services and development company. Since that time, the firm has grown into a fully integrated real estate company, providing exceptional service to our clients while demonstrating a commitment to our core values of integrity, responsiveness and quality work.

While continuing to provide corporate real estate advisory services to some of the Pacific Northwest's prominent organizations, Teutsch Partners has developed a diverse portfolio of favorably performing commercial real estate assets. This portfolio of development expertise includes commercial office buildings, industrial parks, retail uses, multi-family residential, mixed-use marina facilities, and medical office buildings serving both practicing professionals and biotech related research facilities. For more information visit www.teutsch.com.