A piece of Logan bench property sold this month by Logan city brought more than double the amount set for a minimum bid.
The land along Aspen Drive in northeast Logan, which was pre-approved for a 22-lot subdivision, went up for bid with a minimum asking price of $900,000 and sold for just over $1.8 million, according to Logan City Attorney Kymber Housley.
The land attracted nine offers, and the top bid came from Capstone Commercial Finance of North Logan. The listed agent for the LLC is Brent Lawyer, who could not be reached for comment on Wednesday.
“We’re under contract with them now. They have a 60-day due diligence period, and then we’ll close within 30 days after that,” said Housley, who had speculated before the sale that the tight local housing market and soaring home prices could raise demand for the property, especially since it is one of the last pieces of land available on the Logan bench.
The subdivision contains 22 lots, with four lots per acre, and the developer will have to install streets and utilities.
The sale marks one of many milestones in the city’s relationship with what was once known as the “Deer Pen Property” northeast of Lundstrom Park.
The Utah Division of Wildlife Resources once owned the land and used it to provide winter range and a research area for big game, but when those operations ceased in the early 2000s, the land was put up for sale and Logan purchased it with a plan of using some of it for a new cemetery.
The cemetery idea was abandoned, and after much debate and community opposition, part of the property was subdivided for single-family homes and sold in 2005. The rest, excluding about 23 acres set aside for open space, was subdivided in 2016 and put up for sale this month.
Earlier this month, the city sought input from residents in the Hillcrest neighborhood on how to maintain the open space as a natural area. This included taking suggestions for a name.
Logan Parks and Recreation Director Russ Akina said his department will use the input to develop a plan for the area later this year.