Real Estate Development in Pasco Taps Into a Zone of Opportunity
An ambitious project aims to draw visitors and investment to Pasco
April 29, 2019By Bill Conroy
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.