POULSBO — Pope Resources subsidiary Olympic Property Group has closed on a $3.3 million sale of multi-family residential land in its Harbor Hill project to Landmark Development Group LLC.

This 11.5-acre parcel is zoned for 172 multi-family units and represents approximately half the multi-family portion of the 244-acre project located in Gig Harbor, a suburb of Tacoma.

“We are excited to have our first residential closing in this project since completing our development agreement in early 2011,” OPG President Jon Rose said in a press release.

“We look forward to working with Landmark and believe their project will be a great addition to the Harbor Hill development.”

Pope Resources, a publicly traded limited partnership, and its subsidiaries Olympic Resource Management and Olympic Property Group, own or manage approximately 196,000 acres of timberland and development property in Washington, Oregon, and California.

A coalition of conservation groups is trying to raise money to buy 7,000 acres of forestland and shoreline that Pope owns in North Kitsap. The coalition’s deadline is in March.