Updated (1/25): Rick Burnstead's CAMERON PLACE natural open space (on the left) and Camwest Development's HAZELWOOD entrance and partial view of the stormwater wetland facility (on the right). Click pics to enlarge.
OPINION: This is my review of three North Redmond Burnstead, Camwest and Buchan developments on NE 116th Street and my evaluation of their financial soundness. Disclaimer: My family has lived for 24 years in a Burnstead tri-level, within walking distance to three Lake Washington District schools.
The local construction industry has been in a depression since the financial meltdown. Even established local companies like Buchan, Camwest, and Burnstead have put off building. You can almost tell a developers' financial health by the progress of their construction.
Take a drive down NE 116th Street in North Redmond looking south and you will see. Building has been delayed on Cameron Place, Hazelwood, and Sequoia developments, but Bucan appears to be hit the most.
- Buchan's fourteen lot SEQUOIA project is advertised for the summer 2010. No foundations are poured. It's not even listed on their website. They've invested heavily in utility and stormwater infrastructure. As a buyer, I would question their financial situation.
- Clearing and grading of Camwest Development's HAZELWOOD was completed many months ago and building on this large parcel is finally underway. Camwest's website lists six homes for sale (2000-2100sf, mid-$500's) with construction for the six to be completed by April and May. The parcel has 76 lots; less than 10% are up for sale. None are completed.
- Rick Burnstead's thirteen home CAMERON PLACE community is moving along well. Considering the economy, these 2800- 3000 sf homes (high $600's) are selling at a fast clip. Only six remain. Burnstead has not had to compromise on quality of construction and landscaping like some other developers. If I were buying, I'd feel pretty secure that Rick Burnstead, Inc. is financially sound.
Pictures and story by Bob Yoder
Camwest hides the number of lots planned on their website to create the illusion of scarcity. The sales office shows the total number. They are careful to match the building pace with the level of demand - particularly after the recession.
ReplyDeleteMake sure to check out Hazelwood's giant stormwater basin / vault / grate next too the "sport court". It's kind of scary.
It's worth noting that Camwest is about to sell out all homes at Tyler's Creek accessed via 104th. Just across the Tolt trail is Hazellwood / the sequel to Tyler's Creek. They are building smaller square footage homes to keep the price points lower.
Buchan has three developments within 1/2 mile of Sequoia, Whistler, Sable and Aspen. Whistler sold out a few months ago, Sable just sold one of their last two home before it was even completed . Aspen just sold one with 8 under construction. All things considered that is a fair amount of Buchan related construction in the immediate area of Sequoai.
ReplyDeleteBuchan will get back to Sequoia soon.