They Spent $50 Million Creating Their Own Four Seasons. Now It's for Sale.

Dow Jones
09/18

Friends were surprised when Dwayne Clark and his wife, Terese Clark, added a piazza-an open square enclosed on four sides-to their waterfront home in Bellevue, Wash., an area known for notorious rain.

"People said 'No one has piazzas in Seattle,'" recalled Terese.

They weren't dissuaded; the Clarks were inspired by their shared love of Italy and wanted to imbue a bit of the country into their home in the tony enclave of Hunt's Point. In bad weather, the piazza is partially sheltered from the rain, and Dwayne said he believes the piazza has its own "micro climate" that is a few degrees warmer than outside the house.

Still, the Clarks are now relocating to a sunnier climate. Planning a move to Arizona, the Clarks are listing the 2.3-acre compound with two docks on Lake Washington for $71 million. If it fetches close to that amount, it would set a record for the Pacific Northwest, according to listing agents Jay Kipp of Realogics Sotheby's International Realty and Haleh Clapp of Compass. Last year, Amazon's Jeff Bezos sold his Hunt's Point mansion for $63 million, Kipp said.

The Clarks invested $50 million over nearly 20 years into the Washington property, they said. "What we've tried to do is create our own Four Seasons resort," said Dwayne.

Dwayne, 67, is the founder and chief executive of senior-living company Áegis Living and the author of several books on wellness and longevity. Terese, 66, is a retired trauma nurse.

The Clarks paid $4.9 million for the 1.2-acre property in 2008. After tearing down an older cottage, they built a roughly 9,600-square-foot, three-bedroom house filled with items they collected from Italy and other countries over the years.

About 10 years ago, the Clarks paid roughly $8 million for an adjacent, roughly 1.12-acre property, where they built a second house with a large attached garage and a separate stone cottage. The second home is designed to be a wellness retreat, which comes with indoor and outdoor pools, Dwayne said. The residences, connected via a bridge over a koi pond, are Mediterranean-style with stucco cladding and tile roofs.

Completed in 2024, the second home is reminiscent of the island of Capri with light and soft blue colors. An attached garage turns into a ballroom, where the Clarks have done "massive amounts of entertaining," Terese said, hosting athletes, politicians and celebrity events for parties and charity events. The Clarks also have two adult children and nine grandchildren who live nearby.

Though the two houses were a "labor of love," Dwayne said, he and Terese are ready to move to a warmer climate with an active, outdoor lifestyle. They began looking in Arizona a few years ago, and Dwayne said he plans to retire from his role as CEO this year. The couple also own a beachfront home in Santa Barbara, Calif., that is currently listed for $44.999 million.

Despite Washington state's new tax on incomes over $1 million, the ultraluxury market has remained strong thanks to years of wealth creation in Seattle's tech sector, the listing agents said. Hunt's Point, located on a peninsula on Lake Washington, is home to some of the region's most expensive real estate, said Clapp.

 

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