Seattle Times, May 19, 1968Now_Back_in_Business_Seattle_Times_05-19-68
Master plan for Valhalla extends in three directions from the 25-acre portion which has been developed.
Valhalla, a 160-acre residential development south of Bothell which opened with a whoop in 1959 and closed with a whisper in 1964, is back on the market again – on a trial basis.
The opening was one of the flashiest in the local history of subdivision promotion, climaxing in a $30,000 party for 400 guests on the site with Miss Sweden and Miss Norway flown in for the occasion and barbecued beef, pork, chicken and salmon served.
A SCALE-MODEL Scandinavian castle was barged around Lake Washington en route to being installed in a children’s playground.
With frontage on the Sammamish River and adjacent to the Wayne Golf Course, the subdivision was promoted as a planned recreation community.
The subdivision ran into the slackening economy and only 65 of the upper-price-bracket lots on 25 acres were sold between 1960 and 1964 when sales were quietly discontinued. A total of 19 homes were built and two more are under construction now.
For four years, the Viking Investment Co., a subsidiary of the S. S. & M. Co., paid taxes and interest on the $896,000 worth of idle land held in inventory.
Kendall Sandwick, managing trustee of the S. S. & M. Co., president of Viking Investment and a resident of Valhalla, decided to reopen the area to buyers, “to see if the market is ready.”
He signed an exclusive sales agreement with Dan Thompson, president of the Seattle Home Exchange, and put the remaining 50 finished lots on the market.
Restrictive covenants on the original property remain in effect and it will be opened only to single-family residences in the $32,000 to $45,000 range.
If the market is found receptive, the remaining 135 of the original 169 acres will be developed as well as a master planned swimming and tennis club and boat moorage in the community boat-launching area.
ALTHOUGH Valhalla’s working agreement with the Wayne Golf Course across the river has lapsed, the course has been expanded from nine to 18 acres and the river channel improved and rip-rapped to prevent erosion.
Homes are within the Bothell city limits and are served by Bothell city water and sewers.