Despite a notice of loan default issued to developer Wellington Parke Pointe LLC, the planned Park Pointe development continues to move forward as far as the City of Issaquah and other local organizations are concerned.

The city has continued to work on applications for the development, located on the edge of the Tiger Mountain State Forest.

Currently, the city’s planners are working on completing the final Environmental Impact Statement (EIS), which is expected to be finalized in September.

Peter Rosen, the city’s environmental planner, said the draft was finished in January and now staff is working to compile comments from the public and agencies before wrapping up.

Rosen said the developers receiving a default notice has no real effect on what the city is doing at this time.

The city is currently working with consultants hired by Wellington on the EIS and other aspects of the development.

“From my conversations with the project manager it’s all moving forward,” said Rosen.

Once the final EIS is approved the project will be able to move forward with it’s land use permits.

Rosen said during that time a development agreement will be made to allow the cluster housing configuration which the development plans call for.

Despite the fact that all signs point to a continuation of the project, the community at large continues to look on for possible changes.

Doug Schindler, deputy director of Mountains to Sound Greenway, said that default notices such as this were issued very regularly, and that he was not confident it represented a significant opportunity for his group or others to secure the land for other purposes.

“Our expectation is that this probably isn’t much of an opening,” he said. “Our sense is that defaults like this are happening by the thousands across the country – it is a legal formality for lenders to give this warning. Most of the time the landowner works it out with the developer.”

Schindler said that Mountains to Sound Greenway had looked into acquiring the property at Park Pointe throughout the last decade, and were in regular contact with the city and others in Issaquah about the site.

“We’re keeping our eye on it,” he said, adding if it did become available the organization would work with the city on available options.

The current owner, Wellington Parke Pointe LLC, is planning a large housing development at the site, but recently received a default notice from their bank.

Technically, Wellington still owns the property and still has the option to pay what it owes to the lender.

Schinlder said as far as he knew the owner has not indicated to anyone they would like to sell, and even if that was the case, the asking price would likely rule out many buyers.

“It’s not a cheap piece of property,” he said. “But it’s something we’ve looked at for a long time.” He said the property would allow for a connection between the downtown Issaquah trail to Tiger Mountain and provides some excellent viewscapes.

“It would be wonderful to see it preserved,” Schindler said.

Should the project go through as planned, Mark Hinthorne, Issaquah planning director, said the developers will have to pay a parks impact fee.

He added during the permitting process locations for small neighborhood parks would be identified.

A copy of the draft EIS is available on the city’s Web site at www.ci.issaquah.wa.us