Coming off a year of sparse activity in finding buyers for its undeveloped land, the Kennewick Irrigation District now expects to bank nearly $2.4 million from pending sales on three separate properties it owns in Richland.
The district's board agreed last week at two special meetings to proceed with selling a total of 11 acres near Keene and Kennedy roads and on Duportail Drive. The deals are based on sales prices of $5 per square foot.
A 7.4-acre parcel off Duportail near the Home Depot store is being offered to Cascade Fitness LLC for $1.6 million.
A 1.5-acre property at Kennedy and Keene roads adjacent to Ameri Storage is being purchased by Gilroy Family 3 LLC for $339,768.
And two acres off Keene Road south of Ameri Storage is being sold to CV Development for $435,600.
The three sales represent a breakthrough for KID's real estate division, which last year sold only one property, said Joetta Rupert, KID's real estate manager. She blamed a sluggish economy for a poor performance in 2009, but said the three new sales indicate the economy is picking up in the Tri-Cities.
Proceeds from the sales will go into a special highly restricted fund, said Chuck Freeman, KID's district manager. He said the KID board has not yet decided how the money will be used.