Economy
Real Estate Development in Pasco Taps Into a Zone of Opportunity
An ambitious project aims to draw visitors and investment to Pasco
By Bill Conroy April 29, 2019
This article originally appeared in the May 2019 issue of Seattle magazine.
This article appears in the May 2019 issue. Click here for a free subscription.
Mitch Gilbert is out to make the city of Pasco a culinary and entertainment destination.
Gilbert created his development company, Eaty Gourmet LLC, three years ago with one express purpose: to develop a 52-acre site alongside the scenic Columbia River. Called Osprey Pointe, the project will include a food and wine hall, a boutique hotel, a culinary-education center and a waterfront plaza with space for festivals, events and even amphitheater concerts. Phase one is expected to break ground next year with a projected price tag of $52 million.
The development is in one of the states 139 opportunity zones, a new federal program that gives investors tax breaks for investing in low-income areas.
The company also is working with Washington State University Tri Cities on education and training opportunities.
Osprey Pointe could put Pasco at the epicenter of Tri-Cities tourism: More than 200 wineries are within a 50-mile radius.