At their March 1 meeting, the Richland City Council is expected to ratify a Purchase and Sale Agreement to acquire the Economy Inn property located at 515 George Washington Way. The building, located at the gateway of Richland’s Central Business District, was built in 1962 and was recently closed by owners to consider renovation or potential sale. The property had experienced an increase in crime in recent years as well as complaints of disrepair in this prime central location. The site sits at .919 acres and is zoned Central Business District. It is located at the intersection of George Washington Way and Jadwin Avenue.
“When the opportunity presented itself for us to consider this property for purchase, I was excited to bring it to Council’s attention,” states City Manager, Jon Amundson. “This purchase will not only allow us to reduce blight in the City’s core but present economic development opportunities as well."
Anticipating the Council’s approval, the City plans to remediate the aging building, add landscaping, and consider the site for future municipal needs. One option being considered is the relocation of Fire Station 71 to this property. While it would be at least five years before this would come to fruition, it provides a viable option to relocate and replace the aging station currently located at Swift Blvd. and George Washington Way. It would also provide economic development opportunities for the old fire station site.
Richland Mayor, Michael Alvarez says, “This is a great opportunity to complement this area of the Central Business District. The adjacent property next to the Richland Players Theatre has also been purchased by another entity that plans to build a mixed-use building. Projects like these continue to improve Central Richland and implement the council’s vision for this area; a walkable community with diverse amenities, all near our beautiful waterfront.”
Funds for planned land acquisitions were set aside in the prior budget cycle.
Future updates will be shared at www.richlandbusiness.com.
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