Richland Real Estate Blog

Here are some interesting stats from the City of Richland about real estate, construction, and population:

Building permits at all-time highs: The city’s revenue from building permits continues very strong through the first half of the year. The current workload in Development Services seems to indicate that it will remain strong for the rest of the year. Plan reviews, new commercial construction and total construction valuation are at all-time highs. Through June, the city had collected $986,014 in revenue from building permit sources, which is 86% of the total projected for 2008.

Commercial development value is up: Commercial construction increased for the first half of this year, setting a six-month record of $67.41 million, based on 46 permits. Actual number of permits for commercial construction have been higher in half of the previous eight years, but this year’s high value can be attributed in large part to PNNL’s new Biological and Computational Sciences Laboratory, a $47 million dollar project. The total value of all construction also set a record for the first six months of 2008 at $128.41 million, surpassing the six-month mark of $99.75 million, set in 2006.

Richland population is rising: Richland’s population grew by 2.24%, or 1,010 people, from 2007 to 2008, according to statistics provided by the Washington State Office of Financial Management. The state estimates Richland’s 2008 population at 46,080.