EIS released for environmentally sensitive parcel only to have development go bust and land at auction a week later; Issaquah, WA

Park Pointe goes to auction Friday : The Issaquah Press – News, Sports, Classifieds in Issaquah, WA:
City planners detailed last week how the long-planned Park Pointe project could impact Tiger Mountain views, wetlands and wildlife. But the information could be useless because the land where Park Pointe would be built heads to auction Nov. 6.
The project developer, Wellington Park Pointe LLC, failed to make payments on a loan from Regal Financial Bank and in June defaulted on nearly $12 million owed. Developers envisioned hundreds of homes on 67 forested acres on the west slope of Tiger Mountain, behind Issaquah High School.
City planners released the long-awaited environmental impact statement for the project last week. The timing carries a particular irony: The final environmental impact statement for Park Pointe was released Oct. 30 — a week before the land heads to auction.