Tehaleh

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Tehaleh , formerly known as Cascadia , is a community-free area south of Bonney Lake in Pierce County , Washington State , which was created as a planned city . Construction began in 2005 with a planning horizon until completion after 20 years. The place was designed by Patrick Kuo, who bought the land in 1991. The original plan for Cascadia included 6,500 residential units, a business park, an industrial park, schools and parks for recreation for residents. The construction was stopped in 2008, primarily with regard to the construction of further apartments and commercial buildings. Following the 2010 foreclosure, Homestreet Bank repossessed a large part of Kuo's land with the intention of finding a new contractor to carry out the plans.

Financial crisis

In October 2009, Cascadia Project LLC , the company behind the Cascadia development project, fell under Chapter 11 in bankruptcy proceedings. According to HomeStreet Bank , which funded the project, over $ 72 million in loans could not be serviced. HomeStreet Bank planned the foreclosure and auction of the community land, which was only behind schedule due to a school and some infrastructure projects. The bankruptcy plan of Cascadia Project LLC was rejected by the competent bankruptcy court, the US Bankruptcy Court , and HomeStreet Bank completed the foreclosure proceedings and held an auction on September 24, 2010. As there were no qualifying bids, ownership reverted to HomeStreet Bank. After the auction, HomeStreet Bank continued looking for a new investor for the project.

Resurrection as Tehaleh

The Newland Communities and North American Sekisui House rescued the project in 2011 by selling 1,700 of the original 2,023 hectares for US $ 49 million. The project was renamed Tehaleh, derived from words for “Highlands” or “the land above”. The revised plan provides for the construction of 5,900 houses and 37.2 hectares of commercial space over the next 25 years. The plan also preserves the many parks and walkways from the failed Cascadia project. On September 26, 2012, the first 10 model houses were opened in Tehaleh.

Due to the high altitude on a plateau, about 140 above the nearby Puyallup River Valley , there is no risk of flooding for Tehaleh as there is for many other communities in the close vicinity of Mount Rainier. If Mount Rainier erupts, Tehaleh lies outside the lahar hazard zone determined by the US Geological Survey (USGS) . Because of its height and its location outside the danger zone, a project proposed the construction of a bridge from Orting to Tehaleh, the so-called Bridge for Kids , in order to give Orting residents an additional evacuation route to the higher Tehaleh area in the event of danger to offer.

Individual evidence

  1. ↑ “Big housing-retail project planned in Pierce County”  ( page no longer available , search in web archives ). Seattle Post-Intelligencer. Retrieved December 30, 2009.@1@ 2Template: Dead Link / www.seattlepi.com
  2. ^ A b c Cooper, Katherine: Pierce County planned community called Tehaleh, aka Cascadia, will have its grand opening this weekend . The News Tribune. September 26, 2012. Archived from the original on March 26, 2014. Info: The archive link was automatically inserted and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 5, 2014. @1@ 2Template: Webachiv / IABot / blog.thenewstribune.com
  3. ^ "Cascadia dream finally nears reality" . Puget Sound Business Journal. Retrieved December 30, 2009.
  4. ↑ a b “Cascadia property reverts to bank”  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. . Tacoma News Tribune, September 25, 2010. Retrieved January 18, 2011@1@ 2Template: Dead Link / www.thenewstribune.com  
  5. ^ “Money troubles cloud prospects for largest planned community in Washington state” . Oregon Business News. Retrieved December 30, 2009.
  6. ↑ “Cascadia developers out of time to pay off debt, property goes to auction” ( Memento of the original from February 1, 2013 in the web archive archive.today ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. . Bonney Lake & Sumner Courier-Herald, September 23, 2010. Retrieved January 18, 2011 @1@ 2Template: Webachiv / IABot / www.pnwlocalnews.com
  7. ^ Champagne, Reid: Under construction: New city from scratch . The Seattle Times. September 12, 2012. Retrieved August 5, 2014.
  8. ↑ "US Geological Survey's Volcanic Hazards Map for the Mount Rainier area"
  9. ↑ "Bridge for Kids, Orting Emergency Evacuation Summit, October 22, 2014"

Coordinates: 47 ° 8 ′  N , 122 ° 11 ′  W