The Malibu Estates subdivision just south of Birch Bay State Park has been purchasted by a developer who hopes to begin building homes by next summer.
Now renamed Salish Breeze, the project is located between Point Whitehorn and Koehn roads and was bought by Bellingham real estate broker Richard Eggemeyer.
“This marvelous seaside location plus our affordable, architect-designed and quality-built homes distinguish Salish Breeze from other residential developments in Whatcom County,” Eggemeyer said.
The lots, which were previously owned by Point Whitehorn LLC, came to Eggemeyer’s attention when he was looking for properties that were selling for reduced prices because of the economy. He said the Malibu Estates property fit the bill.
“There was a certain amount of [financial] stress there, and I got an attractive price,” Eggemeyer said.
Eggemeyer bought 91 of the 101 lots on the subdivision. Most of the remaining lots are owned by individual homeowners and have houses on them.
The lots will be sold to homebuilders, and Eggemeyer hopes to see construction start by late spring or early summer.
No selling price for the lots was given however, the subdivision is already set up with utility and water hookups.
Though Salish Breeze sits just east from some of Birch Bay’s largest homes, Eggemeyer said he plans to market the yet-to-be-built homes to young couples, early retirees and any other buyers who would prefer smaller houses to larger ones.