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From the Journal of Business, Spokane, WA
January 28, 1999
Another phase OK'd at big-Lot development

Developers are marketing five-acre,
1O-acre parcels in 305 acres near lake

By Linn Parish
OF THE JOURNAL BUSINESS
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Two Spokane developers have received the final go-ahead for the second part of WaterCrest, a 37-lot, 305-acre residential development south of Newman Lake.

Earlier this month, Spokane County found that the second part of the development proposed by partners Mark Baier and Gavin Swenson satisfied the requirements of the State Environmental Policy Act and could proceed.

The developers have begun selling 24 parcels of roughly 10 acres apiece that comprise the latter half of the project. They had begun marketing 13 five-acre parcels earlier.

All of the parcels are priced at between $65,000 and $75,000 each. Baier says he and Swenson already have signed earnestmoney agreements for sales of four of the

10-acre lots. Seven of the 13 lots offered for sale in the first phase of the project have been sold, and homes have been built on two of those lots, Baier says.
WaterCrest is located southwest of the West Newman Lake Road-Starr Road intersection. The property isn't lakefront or lake-view land, but a view of Newman Lake is available from some lots on the northern edge of the development. Roads are in place at WaterCrest and will be surfaced this summer, Swenson says.

Last March, Baier and Swenson bought the land for $1 million from Trumark Industries Inc., a Spokane-based wood products company owned by Jack Brace, both Swenson and Brace say.

This is the first major residential development project taken on by the two men, Swenson says. They are handling the land sales themselves.

Baier and Swenson also own commercial land at the northwest corner of Nevada Street and Francis Avenue, where they operate a Spray-N-Save Car Wash and lease out eight mini-storage units and space for an espresso shop.


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