Bellingham May Acquire Chuckanut Ridge Property

SAL_Chuckanut06 copyUnless you’ve been hiding under a rock somewhere, you’ve probably noticed a sign here or there regarding Horizon Bank’s development of Chuckanut Ridge. There has clearly been a lot of debate here in Bellingham and Whatcom County over the proposed condominium development because of environmental preservation concerns, but since Horizon Bank was shut down by federal regulators last week and taken over by Washington Federal, it’s possible that the City of Bellingham may acquire the forested parcel of land.

Cathy Cooper, a Washington Federal senior vice president, says that the bank has no interest in developing the site: “We are not real estate developers and we really don’t want to be involved in a highly controversial project if we can avoid it,” she said, according to The News Tribune.

Mayor of Bellingham Dan Pike is in discussions with Washington Federal’s president to see if the City and Washington Federal can work something out.  Stay tuned for more information…

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