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Lots of lots in '88.

"A frenzy of residential lot development," approximately 1,300 lots in all stages of development, came as the biggest surprise to realtor Jim Davenport Jr., when he and his staff drafted the 1988 Real Estate Market Forecast in the Wenatchee Market Area.

The number of lots is up from 850 two years ago, up 53 percent.

"What surprised me," said Davenport, "was the excess of lots compared to building permits."

In 1987, 77 lots were sold in major subdivisions and 57 homes were built.

The forecast for sites for manufactured housing and multi-family sites was prepared by Alan Beidler.

He notes that a large number of lots, zoned and developed specifically for manufactured housing, have come on the market over the past five years.

"Developed lots can expect competition from mobile home parks--which have over 120 empty spaces."

As for office space, Mike Baker forecasts new office construction in 1988 along with increasing vacancies of older space unless facilities are upgraded. Baker cited the rehabilitation of the old, historic Morris Building as an example of successful upgrading of office space. The building, at 23 S. Wenatchee Ave., offers "premier space" at favorable rates and an additional 7,200 square feet of office space is scheduled to open there this year.

Retail expansion hot spots include: North Wenatchee Avenue with its availability of large parcels, on-site parking, exposure to main traffic corridor and high traffic volume; and Grand Road in East Wenatchee with its convenient large parcels of land and proximity to Highway 2, Baker indicated.
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Title Annotation:BACK IN THE DAY: Excerpts from the Wenatchee Business Journal published 20 years ago this month.
Publication:Wenatchee Business Journal
Date:Jan 1, 2008
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