Boeing sells 19 acres to development company

Boeing sold 19 acres of surplus land to a Mercer Island-based development company last week.

Sitting on the southern border of The Landing, the two parcels come with plenty of development opportunity and a long Boeing history.

The new owners, the Gibson family of ITF Developments, haven’t approached the city with any development plans yet, said Alex Pietsch, City of Renton Department of Community and Economic Development chief.

Sold for $10 million, the price was about $5.5 million less than the county’s appraised land value for this year, according to public records.

It’s the last piece of Boeing land for sale in north Renton, said Boeing spokesperson Debby Arkell.

The airplane company had offered to develop the land, now a vacant lot, for the Federal Aviation Administration’s new headquarters in March. It was one of 10 possible locations in Renton.

The land was made surplus in the early 2000s, when Boeing began consolidating some of its buildings in Renton, Arkell said.

The buildings were torn down, and the land went up for sale with a few other parcels that soon became The Landing, a new shopping and high-end apartment development.

Park Avenue North splits the property in two. Its northern border is North Eighth Street. The south is bordered by Boeing buildings.

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