The real estate market took a huge leap over the last year in Bremerton. Home prices saw about 20 percent appreciation, and the market has been even more active than in other Kitsap areas.

The situation doesn’t surprise any Realtors, but it certainly does excite anyone who gets the chance to talk about it. Bremerton is booming, and things are about to get better for the next few years.

Jessica Kennedy with Windermere Real Estate in Bremerton says interest rates and the prices catching up with the market are two reasons for the activity in real estate — as they are anywhere else. But the revitalization efforts are drawing big attention to the area, with many people looking forward to moving to the city, and many homes that were formally rented being remodeled and occupied by homeowners. Developers, too, are interested, trying to build a larger variety of options. In fact, Windermere itself just built a new office building in downtown — the first new commercial building there in over a quarter century.

The waterfront condos being built by the Kitsap County Consolidated Housing Authority don’t have a price range yet, but about 200 people are on a list to be contacted. The four steel and concrete framed buildings will be built on top of parking garages, and units will range from 800 square feet studios to 2,500 square feet two-bedrooms, with four to five units on each of the six floors.

Gary Tusberg of the KCCHA says construction may start in the fall or next year, depending on whether they decide to start the garage excavation and construction work early or do everything in one sweep. Either way, the entire project is estimated to be completed in two years, with second stage — the last two buildings of the four — to start shortly after first one is done.

Two of the three design phases had been finished by the end of May, Tusberg said, and the first two buildings will go up to bid this summer. “The price of the units will be determined when bids come in. It will not be Seattle pricing but will likely be over current market because we don’t have anything comparable in the area,” Tusberg said. The units will be then sold on a reservation basis.

“Usually what you see in Kitsap County is wood frames, and these will be all steel and concrete. It’s built to last,” he said. “We’re rebuilding the downtown area and are trying to establish a lasting presence.”

That idea certainly doesn’t escape other developers and businesses looking to take part in the downtown burst. Downtown residencies will attract more services and businesses to the neighborhood, Kennedy said, making the city more attractive and livable. And the rest of Bremerton is better off for it.

“The services really make it a vibrant, 24-hour city, and give it a character,” Kennedy said. “Diversifying the residential component is critical to the revitalization. I have a feeling Bremerton will be in positive growth mode in the next five years.”.