Tubbs Hill, Ed Corridor Value
This is for all the CAVErs who have been questioning the $10M value set by developer Marshall Chesrown on the 17-acre Education Corridor along the Spokane River. In his new history of Tubbs Hill, attorney Scott Reed includes a document from county Assessor Mike McDowell. Who estimates the 1/1/05 value of the 134 acres of Tubbs Hill/McEuen Field at $177M. The valuation a year later was set at $234M. Or $1.85M per acre. Compare that to Marshall Chesrown's asking price of $588,000 per acre (delivered with an environmental stamp of approval). Next case.
