Construction + Real Estate
Tri-Cities Area Journal of Business’ full-color glossy magazine Focus: Construction + Real Estate in the Tri-Cities provides an overview of the area’s major real estate and construction projects and building trends in the area. This magazine is published in the fall.
Market overview: Relief on horizon for housing shortage as prices skyrocket
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…
Residential growth: Home values rise as affordable housing options languish
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: Costs continue to drive up prices
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…
City of Richland: New bridge, developments to boost central district
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,…
City of Kennewick: The reigning retail capital of the Tri-Cities
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…
City of Pasco: Record-breaking growth pushes further west, north
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…
