May Statistics, New Development, and More

Benton City Could One Day Be Upscale Mixed Use Development

In exciting real estate news for the Tri-Cities, Benton City is envisioning a transformative future for a vast 235-acre parcel of land located south of Interstate 82. The city has taken a significant step toward realizing this vision by adopting a comprehensive subarea plan. Let’s dive into the details of this ambitious plan and its potential impact on the community.

Creating a Desirable Destination

Mayor Linda Lehman expressed her enthusiasm for creating an upscale development that will attract people from near and far. The goal is to establish an appealing destination that showcases the beauty of Red Mountain. By incorporating light industrial, retail, hotels, and much-needed housing, the plan not only promises jobs but also addresses the community’s urgent housing needs.

Thoughtful Planning and Community Involvement

The city council unanimously approved the subarea plan, reflecting a shared vision for a vibrant and inclusive neighborhood. It provides an exceptional opportunity for a diverse range of residents, including young homebuyers and aging adults, with convenient access to future amenities. Collaborating with AHBL and Michael Mahaffey, the city invested $80,000 and valued community input through surveys and workshops. Although design standards are being finalized, a temporary building moratorium ensures adherence to the plan’s vision.

A Promising Future

Although the full realization of the plan may take several years, its adoption represents a significant milestone for this largely undeveloped property. Situated near Benton City’s southeastern edge, the subarea is primed for transformation. Currently, it houses only a gas station and convenience store, leaving ample room for development. The land, annexed into the city in 2005, is predominantly owned by the Washington State Department of Natural Resources.

The Washington State Department of Natural Resources recognizes the evolving landscape and aims to responsibly manage the 226-acre state land parcel within Benton City’s boundaries. This transition land presents an exciting opportunity to determine its highest and best use, and they eagerly anticipate working with Benton City to achieve this shared goal.

Planning for Success

The subarea plan encompasses various essential elements, including land use, economic development, transportation infrastructure, recreation, open spaces, and utilities. It underwent rigorous reviews by the city’s planning commission, state agencies, and the State Environmental Policy Act (SEPA) review process.

Collaboration and Future Possibilities

As part of Benton City’s strategic planning, Mayor Lehman shared the subarea plan with port commissioners of the Port of Kennewick. She proposed the idea of potential collaboration and sought their assistance in recruitment efforts. The commissioners responded positively, and discussions are underway with the port CEO to explore this opportunity further.

Exciting times lie ahead for Benton City as it embarks on this remarkable development journey. Stay tuned for more updates on this captivating news in Tri-Cities. The community anticipates the positive impact that this development will bring. It will transform the area into an enticing and thriving destination for residents and visitors alike.

For further information, click the link below to read the full article. https://www.tricitiesbusinessnews.com/2023/05/benton-city-blank-slate/

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May Statistics

Average Sales Price YTD: $469k | April: $470k | This shows home prices are coming down a little bit

Current Inventory List: 515 | April: 465 | This shows more homes are coming to the market

Average Days on Market: 48 | April: 50 | This shows that homes are selling a little faster compared to the previous month

Median Sales Price YTD: $435k | April: $435k

Closed Sales for the Month: 232 | April: 210

Closed Sales YTD: 1,028 | April: 788

To read full market report, click here https://issuu.com/cbtabsgraphics/docs/cbt_tricitiesmarketreport_may_2023

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Quick tip of the day:

If you are considering selling, here is a list of suggestions to hide/remove before photos get taken:

1. Magnets all over the refrigerator
2. Live, Laugh, Love signs (sorry-out of style)
3. Medications in the bathroom
4. Lotion by the bed (yes, we see this often)

The most important thing to do is remove as much “clutter” as possible. The photos buyers see online is the first impression they get with your home. You want to invite them into your home, not steer them away.

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