The City of Mercer Island is putting its property on First Hill up for sale.

The property, located at 2976 74th Ave. S.E., is currently being used by the city’s water utility, and proceeds of the sale will be put into the city’s water fund.

According to a press release from the city: “In furtherance of sustainability policies, the city will require that the eventual development of the property achieve LEED Silver or better certification. The city plans to work with potential buyers to encourage development that is consistent with the current character of the neighborhood and protects existing trees.”

The City Council approved the sale of the property in 2009, after it was determined that the site was no longer needed for additional water storage. Due to the decline in the real estate market, the property was not put up for sale at that time. Now that the market for real estate has improved, the city feels it is now the time to place the property on the market.

Money from the sale will first go to pay off debt issues to fund construction of the emergency water well in Rotary Park.

To learn more about the property and the sale, contact Mercer Island Deputy City Manager Noel Treat at (206) 275-7661 or via email at noel.treat@mercergov.org.