Chelan Valley Housing Trust, Seven Acres Foundation and the Lookout reach agreement
CHELAN – The perfect location for a community center, ample property for future affordable homes, and a significant donation to the Chelan valley were all recently accomplished in a three-way real estate transaction, report representatives from the Seven Acres Foundation, the Chelan Lookout LLLP and the Chelan Valley Housing Trust.
“We’re thrilled,” says CVHT Executive Director Mike Cooney. “We’re ending up with nine acres of wonderfully suited property to build a planned neighborhood of affordable homes. This property will fulfill our property needs for years to come.”
Ben Williams, Board President of the Seven Acres Foundation, explained that the Foundation and Real Life Church initially planned to build their community center on Anderson Road, on property the church owned. Over the course of the year, discussions for swapping property with the Housing Trust ensued. “There were a lot of moving parts, with coordination and cooperation necessary by all involved for this to occur,” says Williams. “Everything really turned out very well, and we can’t thank Real Life, the Chelan Valley Housing Trust and the Lookout enough.”
“The Lookout is pleased to have been a part of this triple win for the community,” reports Lookout GM Dallas Widmark. “Our three acre donation promises Chelan valley workers many more units of workforce housing, it provides a convenient location between Chelan and Manson for the Seven Acres Foundation community center, and it adds a wonderful new amenity for Chelan valley residents and the Lookout community.”
The real estate transaction originated with an offer from the Lookout to donate three acres of its development property to the Chelan Valley Housing Trust for affordable housing. Concurrently, the Seven Acres Foundation, who was developing a community center, had been looking for a property that was closer to town than their nine-acre tract near Chelan Fruit along Anderson Road.
Realizing the mutual benefit each organization could achieve, the transaction concluded with the Lookout gifting three acres to the Chelan Valley Housing Trust, who in turn traded that property for five of the nine acres of property owned by the Seven Acres Foundation, along with an agreement for the Housing Trust to purchase the Foundation’s remaining and contiguous four acres at that location.
“The parties all worked together to create a deal with the best outcome for each organization,” says Cooney. “It all started with the Lookout’s generous offer to donate three acres for affordable housing. This is a big win for the Lake Chelan valley.”
For more information on the Seven Acres Foundation, the Chelan Valley Housing Trust and the Lookout, visit http://sevenacresfoundation.org/, https://chelanvalleyhousing.org/, and https://chelanlookout.com/.
Photo Caption: Chelan Valley Housing Trust President Tim Hollingsworth and Executive Administrator Rachael Goldie consider the housing trust’s recently acquired 9-acre property along Anderson Road in Chelan. The property will accommodate up to 35 affordable homes.