Forest Lake Subdivision
The Forest Lake Subdivision development project included permitting, platting, road and electrical installation for 160 acre subdivision in Wasilla, Alaska.
We were introduced to older swiss gentleman who needed help figuring out what to do with the 160 acres of raw lakefront land he owned. The property is about 1.5 hour drive north of Anchorage, Alaska. The land was well wooded with nice small lake about five miles east of the town of Meadow Lakes, and close to the Big Lake Recreation Area.
The deal began as a partnership and later Walsh Investment Company agreed to buy out the original owner’s interest in the project. We agreed to name the unnamed lake Airolo Lake after Airolo Municipality in Switzerland where the man was from. Later, after acquiring a full interest in the property we renamed the subdivision Forest Lake to make marketing easier. The official name of the lake, Airolo Lake, still appears on local maps to this day.
We worked with a local land engineering firm to plat the land into lots and began the permitting process, then staked the individual lots and put in the roads ands electric lines. During this project Keystone Development had its first lawsuit experience with a road development contractor who did not complete the job. Charles Walsh Sr. represented himself in the lawsuit and won. Later that winter Charles bumped into this contractor while walking down the beach in Hawaii and he wanted to know he could bid on the next job!
After the first twenty percent of the lots had sold Walsh Investment Company accepted a strong offer to sell the remaining unsold lots to Tipton Development Company who was looking to accumulate land in the area.
After the permitting and development work was completed and we began marketing the individual lots for sale. During the first site tour a gang of local mosquitos almost carried away our first potential client and we realized that selling lakefront land in Alaska is an activity best left for the fall season after the first snow has fallen. Lesson learned!