MainStreet Property Group LLC has sold a project that will become 45 luxury townhomes near downtown Bothell to Toll Brothers. The project is located two blocks west of the heart of downtown next to the Bothell library.
Terms of the deal were not disclosed.
MainStreet Property Group completed the development of the site earlier this year. Toll Brothers is expected to begin construction in the spring of 2017.
“Toll Brothers is one of the leading homebuilders in the region and their reputation for quality homes, great customer service and attention-to-detail sets them apart,” said MainStreet Property Group President Kelly Price. “We’re strong supporters of Bothell and continue to have significant development and construction interest in this market. We’re proud to have played a role in helping the downtown core transform into a walkable, energized place to live, work and recreate – and we’re excited to see what Toll Brothers is going to do on this site.”
Toll Brothers has built luxury homes since 1967. They are currently selling 10 new home communities in the Puget Sound region, including Timber Creek and Pipers Glen in Bothell, and will be opening additional communities in 2017.
“The City of Bothell’s vision for revitalization is truly tangible—and we think it is one of the most exciting cities in the region,” said Toll Brothers’ Division President Kelley Moldstad. “As cities around the region work to create walkable, amenity-rich downtown cores, opportunities to live near these dynamic environments are mostly for renters. Our community addresses what we believe is an unmet need for new homeowners to also live within close proximity to Bothell’s downtown redevelopment.”