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Real Estate
Real Estate

Area outlined in this aerial photo shows the property along Bethel Road in Port Orchard owned by Home Depot that is for sale. (Photo courtesy Home Depot)The site where Home Depot once had considered building a store in Port Orchard is now for sale, with an asking price of $7.4 million for the 20.74-acre property south of the Walmart supercenter on Bethel Road.

“We’re opening very few new stores,” said Brian Cannard, real estate manager for Home Depot in Seattle. He said the Port Orchard location — which was purchased before the recession — did not have sufficient sales projections for the company to invest in building a store there. read more »

 
Real Estate

Real Estate Market Stats 2013Isn’t it time for some good news about the economy? We think so! That’s why after six years in the economic doldrums, we are excited to see trends that show significant improvement in our Kitsap marketplace.

Collective wisdom says it was the housing market that led the downturn and that housing must lead the way back up again — and that seems to be the scenario emerging here. New home construction is experiencing a revival in Kitsap County. read more »

 
Real Estate — Peninsula Roundup

An artist's rendering of what the completed Bainbridge Island Museum of Art will look like. The museum is scheduled to open in June.Although the recovery in the commercial real estate sector is slow, the past year has seen increased activity in new construction. There are various projects in the works or on the drawing board around the Greater Kitsap Peninsula, as well as numerous tenant improvement projects, which continue to see strong interest.

Below is a roundup of some of the commercial construction activity happening around the West Sound read more »

 
Real Estate

Charlie Wenzlau stands outside of Ericksen Cottages, a pocket neighborhood he designed in downtown Bainbridge. The community includes 11 small-footprint cottages situated around a common courtyard (part of which can be seen behind him.)When it comes to influence on the look of Bainbridge Island’s Winslow area, perhaps no one has as much claim as Charlie Wenzlau. The island-based architect has designed 10 projects within a few blocks alone and has had his creative fingers in such downtown landmarks as the San Juan building by the ferry, Madrone Village downtown, and The Winslow mixed-use project at the corner of Winslow Way and Ericksen. read more »

 
Real Estate

Tad and Sally Fairbank of Fairbank ContructionThe construction industry is slowly turning the corner, and when things kick into high gear, Fairbank Construction Co. wants to be ready. Earlier this year, the company opened an office in Seattle and owner Tad Fairbank expects to add 15 people to the existing 60-employee base by the end of the year.

“Residential is seeing the biggest growth. We work with 25 architects and all are busy — this is all happening in the past six months to a year,” he said. “We’re feeling pretty good.” read more »

 
Real Estate

Kevin Ryan, left, and Dan RyanThe work of Tim Ryan Construction is familiar to many people around Kitsap. The company built such notable buildings as The Doctors Clinic on Myhre Road, Harrison Urgent Care in Port Orchard, Trophy Lake Golf clubhouse and Poulsbo Village Shopping Center. It has also worked on major renovation projects such as the Bremerton Bar & Grill, the LEED Platinum-certified Rice Fergus Miller headquarters in Bremerton, and the High Point Shopping Center in Port Orchard. read more »

 
Cover Story

A cyclist rides by a courtyard and retail storefronts in the Pleasant Beach Village development on Lynwood Center Road on Bainbridge Island.Summertime will see more of Pleasant Beach Village blossoming in Lynwood Center on Bainbridge Island, along with the start of construction on the Phase 2 residential component of the revived development.

There’s still unoccupied space in the row of four commercial buildings on the east side of Lynwood Center Road, but the building at the south end of the row — across the street from established businesses such as the Treehouse Café and Lynwood Theatre — soon will be filled by The Marketplace at Pleasant Beach.

Eric Andersen is managing that project and will operate a coffee shop called The Boathouse that will anchor one end of the 2,700-square-foot market. Andersen is well known on the island from the years he spent running the espresso stand at Town & Country Market on Winslow. read more »

 
Real Estate

The housing rental market is one of the sectors of the economy where the impact of the military presence is evident in Kitsap County. Local property management companies say that due to a shortage in military housing in general, there’s usually strong demand for rentals. The most popular single-family homes — three-bedroom, two-bathroom properties renting for under $1,000 a month — have remained in demand during the downturn as well.

Unlike the real estate market in general, the rental market has remained fairly balanced, and vacancy rates are low.

“We don’t have renters waiting in line, but demand has been steady for the past few years,” said Brett Huff of Port Orchard-based Kitsap Property Management, which had six vacant rentals in mid-May out of the 175 it manages. read more »

 
Real Estate

The past year has not brought much good news for the commercial real estate market. But some commercial property brokers and managers are seeing a positive trend.

“I feel we’ve reached the bottom in both (commercial and residential) markets,” said Matt Smith, president of The Rush Cos., which includes a commercial division. “The office market is starting to slowly pick up and the retail market remains fairly flat.”

Rush develops and manages commercial properties in a wide area that includes Gig Harbor and Kitsap. Smith said medical space continues to be the market leader while the multi-family housing market is also strong in Kitsap due to the military presence. read more »

 
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