(The Center Square) – The Bellevue City Council is considering purchasing more than 12 acres of land for $19.1 million to extend the Coal Creek Natural Area.
According to the city, adding this open space would help improve connections in the city’s regional trail system, including buying private lands both east and west of Lakemont Boulevard adjacent to existing parks.
The city claims the land would link an existing city-owned trail that connects the Cougar Mountain Regional Park and Red Town trailhead to the city’s trail system in the Coal Creek Natural Area.
The 12.2-acre parcel land is located at the south end of Bellevue city limits near the Coal Creek Natural Area.
The land parcel is owned by a private developer which had plans to build 35 homes on the site.
The property seller provided the city the counteroffer of $19.1 million after the city initially provided a verbal offer of $18.5 million with an estimated closing date at the end of January 2025.
In 2023, the city received a $9.2 million grant from the King County Conservation Futures Fund for this project. The levy has a tax rate of 6.25 cents per $1,000 of assessed property valuation. A homeowner with the county’s average home valuation of $45,000 pays approximately $50 annually toward the levy.
Along with using the full $9.2 million in grant funds toward the land purchase, Bellevue could choose to fund the remaining $9.9 million of the total purchase price using initially $8.3 million in city funds coupled with around $1.6 million in potential future regional grants.
The potential purchase will be considered during the Bellevue City Council’s Dec. 10 meeting. If the purchase is approved, Bellevue Parks & Community Services will apply for additional state and county grants to help offset the total cost.