Puget Sound developer YarrowBay has changed its name to Oakpointe

Puget Sound Business Journal staffer Mark Stiles reports that after nearly a decade of controversy, a developer is moving forward with plans to build 6,050 homes in Black Diamond.

Stiles explains that YarrowBay Communities, which has long been battling local Black Diamond officials for its plans to build, has now changed its name to Oakpointe Communities, and teamed with Naperville, Ill.-based Crown Communities on a capitalization deal that will enable Oakpointe to ready infrastructure and start marketing lots to builders in the months ahead. Stiles writes:

Located on the opposite end of town, Lawson Hills is a 1,250-home project. Oakpointe is planning other projects in the Black Diamond area but is starting with the Villages and Lawson Hills.

[Oakpointe CEO Brian] Ross said his company has permission to build nearly 800 homes initially, but likely will start with 350 residences and some neighborhood retail space. "We are in discussions with (home) builders right now," said Ross, who thinks the houses will be priced between $300,000 and $600,000.

Read more >