The former Roger’s Market Place property in downtown Mountlake Terrace has been sold for $8.2 million, a 328 percent increase over the previous sale only two years ago, according to NextMLT.
The property last sold to an ownership group under the direction of architect and developer Alan Clark in 2016 for $2.5 million. Clark, through his firm Arca, had been developing a concept of a project called Mountlake Village on the Rogers site. The most recent renderings of Arca’s project show two connected buildings, one of which is up to 14 stories.
The concept also provided a large amount of ground level open space that was shown as a plaza and water feature. Current zoning on the property would allow up to six stories, though this may change with the ongoing Town Center plan update.
The sale was a result of an unsolicited offer, according to NextMLT.
For more information, click here to visit NextMLT.