Port of Pasco Approves Letter of Intent for Development of Osprey Pointe
Pasco, WA – At their June 29, 2018 regular meeting, the Port of Pasco Commission approved an exclusive Letter of Intent (LOI) with Eaty Gourmet LLC (EGC) for development of Osprey Pointe, an approximately 52-acre site along the south side of East Ainsworth Ave, Pasco Washington.
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.” With the LOI approved, EGC will focus on the master development plan, strategic partnerships, and securing financing for the project that will include a market hall, boutique hotel, indoor-outdoor event space, and a mix of commercial and residential.
“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.
The LOI gives the Port and EGC six months to create a master development agreement, which will lay out the amenities, schedule and financing for developing Osprey Pointe to its full potential.