Eaty Gourmet Announces Development in Tri-Cities Opportunity Zone
Osprey Pointe on the Columbia River Destined for Culinary and Entertainment Center
PASCO, Wash., March 15, 2019 /PRNewswire/ -- Eaty Gourmet LLC (EGC) announces a planned, phased development of Osprey Pointe, an approximately 52-acre site along the Columbia River in Pasco, Washington. Osprey Pointe and the greater Pasco area have been named one of 139 opportunity zones across Washington State, a federal program designed for investment in low-income areas with sizeable incentives for investors. The site, located along the south side of East Ainsworth Avenue, is owned by the Port of Pasco and is under an exclusive Letter of Intent (LOI) agreement with EGC. The development at Osprey Pointe is anticipated to begin in Spring of 2020 with completion of the first phase of the project in 2022. Phase one is projected to cost $52 million.
EGC Chief Visionary Officer and Tri-City resident Mitch Gilbert, commented, "It's a multifaceted agreement that took a lot of effort by both parties to shape. Together we are committed to expanding the community's economy and adding to its vitality."
Designed as a lifestyle resort, Osprey Pointe promises to be a culinary and entertainment destination offering an experience unique to the character of Washington's wine and culinary industries. This new development will bring together a food and wine hall, boutique hotel and culinary education center connected around a waterfront courtyard plaza where visitors and locals will gather for events, festivals and amphitheater concerts.
Eaty Gourmet LLC has also signed a memorandum of understanding with Washington State University Tri-Cities to explore options for offering training and learning opportunities for businesses and the community at large.
"The Port Commission has always believed that Osprey Pointe is a special place to create investment and opportunity in Pasco. The Eaty Gourmet group gets that. The vision they presented will accelerate revitalization and create national interest and prestige. This project can be transformational for Pasco and the Tri-Cities," commented Jean Ryckman, Port Commission President.
According to the Tri-City Herald, Pasco is the fastest growing city in Washington and recently completed a $45 million remodel of the Pasco airport. Pasco is one of the three cities that comprise the Tri-Cities region with over half a million visitors annually for its more than 200 wineries in a 50-mile radius and boasts 300 days of sunshine.
About Eaty Gourmet LLC
Founded in 2016 by Mitch Gilbert, Chief Visionary Officer, as the entity to develop a 52-acre site on the Columbia River owned by the Port of Pasco in Tri-Cities, WA. Gilbert's experience in sales, marketing, and business development span over 25 years with companies such as GE Capital, InfoSpace, Vanstar, and UnionStreet.com as well as his start-ups, Northern Professional and Grinders Hot Sands. Gilbert's intuitive knowledge of emerging markets and strategic partnerships have led to the successful launch of numerous products, services, and brands from concept to customer in the technology, retail, hospitality, and restaurant industries nationally and internationally. https://destinationospreypointe.com
About the Port of Pasco
Port of Pasco connects people and products by air, land or water and forges partnerships with other regional economic development and governmental organizations that advance the economy by creating opportunities for investment and growth. http://www.portofpasco.org/
About WSU Tri Cities
As one of six campuses of the Washington State University system, WSU Tri-Cities' tight-knit campus community blends hands-on learning with opportunities for research, access to a multitude of internships, personalized instruction and an active student life. The University, with more than 1,700 students, is driven by an ultimate goal of engaging students in hands-on learning through internships, co-ops and project-based courses.
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SOURCE Eaty Gourmet LLC
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