This is a printer friendly version of an article from the The Olympian.
To print this article open the file menu and choose Print.

[Back]

Published June 08, 2009

THURSTON COUNTY: Auction of 1,250-acre property postponed

THE OLYMPIAN

The foreclosure sale of the Thurston Highlands property has been postponed until June 12.

The public auction of the 1,250-acre property on the west side of Yelm had been scheduled for Friday at the Thurston County Courthouse.

Steve Chamberlain, a local developer and the managing member of the property owner, Thurston Highlands Associates LLC, secured interim financing totaling $12 million to start developing the property with the intent of refinancing in three years, when the project moved into the construction phase.

But neither his lender, Frontier Bank, nor other banks could provide additional funding because of tightened lending after the financial crisis.