Title
Development Projects Status Update
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receive the update. Briefing only; no action requested.
Report
Issue:
Whether to receive a briefing on recently completed and pending development projects in the Downtown and City-wide.
Staff Contact:
Renée Sunde, Economic Development Director, Community Planning & Development Department, 360.753.8591
Presenter(s):
Keith Stahley, Community and Development Director
Renée Sunde, Economic Development Director
Tim Smith, Senior Planner
Todd Cunningham, Building Official
Background and Analysis:
It is an important time in Olympia as the Thurston County region is forecasted to grow by approximately 100,000 over the next 20 years. According to the Thurston Regional Planning Council (TRPC) population forecasts, approximately 20,000 residents will likely make Olympia their home with plans for 5,000 new residents in Downtown. Many communities around the Puget Sound region are experiencing growth and the Olympia Metro area (Olympia, Lacey & Tumwater) was recently cited by the US Census Bureau as the 23rd fastest growing region in the nation, charting 2.2 percent growth between 2015 and 2016.
The City’s Comprehensive Plan and concurrent Action Plan describe the community’s long-term vision and goals. And, the recently adopted Downtown Strategy will help bring to life the vision for a more vibrant and attractive Downtown to live, work and play.
Preparing for our future requires a balanced approach to meeting the social needs of the community, protecting environmental assets and supporting economic realities. There are many factors that will help set the stage for the future development needs of our community. Those elements include good policy making and strong community planning that is not only regulatory but solution oriented. An engaged investment and development community, a culture that values business, entrepreneurship and innovation and strong public/private partnerships are also key factors that will help set the stage for a stable economic future.
Over the past several years, the City has witnessed increased private investment resulting in new development in our Downtown and increased multi-family and single family residential development throughout the City. Numerous projects have recently been completed or are in the pipeline for completion over the next two years. These development projects will help meet the needs of our growing community.
Industry expansion projects have been primarily in the healthcare sector with several facility expansions and a few new clinics coming on line. The State of Washington continues to invest in Olympia through the construction of new facilities, although at a much slower rate than in past history. The 1063 Block project on the Capital Campus has been a significant project over the past year and is targeted for completion in 2018.
Retail continues to experience major changes nationally forcing local retailers to adapt as well. Online retail sales and shrinking brick-and-mortar locations require an adaptive approach to supporting Olympia’s Auto Mall and regional shopping mall. Some new stores are coming into Olympia’s market, while a handful has closed in large part due to national retail chain closures.
Small business continues to be the backbone of Olympia and the creative industry sector continues to grow with several new development projects and tenant improvements supporting this trend. Local food suppliers, craft brewing and distilling, and local artists continue to be a driving influence on small scale projects especially throughout the Downtown core.
Neighborhood/Community Interests:
Community and economic development has community-wide impacts, implications and interests.
Options:
Briefing Only
Financial Impact:
No Financial Impact report
Attachments:
None