King County has purchased the Cedar River property at the center of a nearly decade-long fight over a proposed asphalt plant, paying $14 million — $2.7 million below its appraised value — for land that could become a crown jewel of the county’s park system.
King County Councilmember Reagan Dunn announced the deal Saturday at the Fairwood 60th Anniversary Celebration, where there was a ceremonial signing and transfer of the deed.
“As soon as it became not profitable for them, we swooped in and snatched it very quickly,” Dunn said.
Dunn said the $14 million purchase will come from reserve funds, not new taxes.
“Lakeside Industries deserves enormous credit for coming to the table and negotiating in good faith,” Dunn said. “Now, the future of this property belongs to the community, and I look forward to seeing what residents design for this public space.”
Cedar River property expected to be crown jewel of park system
Dunn told KIRO Newsradio he recently took a walk along the Cedar River property on his own.
“It’s gonna be the kind of thing that future generations are gonna play in and connect with trails and be our crown jewel of our park system,” he said. “I’m very happy about it.”
The county will bring neighborhood stakeholders together to decide what goes on the land, from trails and play structures to wildlife habitat restoration, Dunn said.
KIRO Newsradio has reached out to Lakeside Industries for comment.
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