Construction + Real Estate

The Tri-City construction market continues to add millions of dollars in new projects as home and commercial lease prices skyrocket. The average Tri-City home sale price did not dip below $300,000 for the first eight months of 2019. But area real estate experts say prices could begin to level off in 2020. “I think we’re…

As Tri-City home prices climb, so does their value. In the last three years, Vicki Monteagudo, broker-owner at Century 21 Tri-Cities and NAI Tri-Cities, said she’s observed a 10.4 percent home appreciation rate. “Some areas have hit double-digit appreciation in the last 12 months alone, especially in those more lower-end prices,” she said. The Tri-Cities ranks No. 8…

Commercial real estate agents cite years of ongoing growth for the Tri-Cities’ especially tight market today. “There’s a lot of leasing, a lot of sales, a lot of new construction going on,” said Rob Ellsworth, senior advisor at SVN | Retter & Co. in Kennewick. “Our market might even be too strong right now because…

Transformational projects in central Richland will add new housing options, transportation routes and businesses to the city’s core. The long-anticipated Duportail Street bridge is expected to open in fall 2020. The route will connect drivers from the Stevens Drive corridor to the Queensgate Drive retail hub, and provide easier access to locations in central Richland,…

The city of Kennewick continues to grow at a steady clip, ushering in new commercial and residential growth anchored by recent developments along Columbia Center Boulevard and in the Southridge, Vista Field and downtown areas. There’s plenty of commercial development along Columbia Center Boulevard, including the opening of three popular new stores. Goodwill Industries of…

By Andrew Kirk Pasco’s residential subdivisions continue to gobble up farmland and large buildings are sprouting up all over industrial zones. Franklin County is offering to let the city annex 4,800 acres of land to the north so it has room to grow, said Rick White, community and economic development director for Pasco. Prior to…

By Andrew Kirk The Tri-City’s bedroom community saw continued residential growth in 2019 and more is on the horizon. West Richland issued 86 residential building permits for the first half of 2019, compared to 42 during the same period last year. The Heights at Red Mountain Ranch, the largest residential development project ever approved by…

Port of Kennewick projects to transform more than 100 acres in Kennewick’s retail core and a neglected waterfront into pedestrian-focused developments are taking shape. The $4.9 million first phase of the Vista Field development is expected to be completed in January 2020. The project lays the groundwork to turn the former air field into a vibrant, urban,…

By Andrew Kirk The Port of Pasco’s key properties continue to see interest, growth and improvements. The port manages the Tri-Cities Airport and the marine terminal east of the cable bridge, and promotes the development of land on multiple sites in east Pasco to boost the economy in south Franklin County. The port’s operations and…

By Andrew Kirk Port of Benton property not far from Pacific Northwest National Laboratory is changing hands as plans are hatched to develop industrial flex space in north Richland. The Port of Benton manages 2,756 acres in the north, central and west side of Benton County, including 50 buildings on 12 sites, 16 miles of short-rail line,…