Yelm council authorizes mayor to sign 640‑acre purchase‑and‑sale agreement with Bluefern

The Yelm City Council voted to authorize Mayor de Pinto to sign a purchase‑and‑sale agreement (PSA) with Bluefern Development for a 640‑acre parcel (parcel 1172), approving a phased sale that staff said would be paid to the city in stages as development milestones are met.

Todd (city staff) told the council the city began the process in June 2024 by hiring Kidder Matthews to market the parcel and explore development options. He said Bluefern’s offer would pay the city a minimum of $16,500,000 and up to $18,550,000, depending on the exercise of extension options and nonrefundable extension fees, and that purchases and development would be phased over roughly 12–19 years. Todd described an entitlement and phasing schedule that requires council approval of each conceptual master plan and later final approvals for development agreements and permits.

Bluefern representative Silana Poloshkova told council Bluefern is primarily a residential developer but has…