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Downtown Yakima is in Bloom

Photo courtesy of Andy Sawyer, Yakima Herald-Republic

Yakima is poised for a major resurgence, boosters say. The city recorded more than $100 million in new construction in 2007 ? a record ? as developers poured new money into a number of downtown projects.

It's a sharp turnaround from only five years ago, when the downtown Yakima Mall finally died after a long and agonizing decline. Most observers predicted that the rest of downtown would collapse along with the mall.

But a combination of public and private investments has generated new momentum. The old mall property itself is being rebuilt as a mix of hotels, condos and street-level retail. And new owners are pouring money into a number of other downtown buildings, including the 11-story A.E. Larson office building that dominates the downtown skyline.

Several economic trends have helped the resurgence. Rising prices for farm products are pumping more cash into the valley, making retail more profitable. Skyrocketing property values in Puget Sound have some developers looking east of the Cascades for more-affordable investments. And the rapid growth of the state's wine industry is attracting more tourists.

Developer Larry Hull, whose company spent $16 million last year on the Larson building and another 14-acre Yakima property, says the investments were a no-brainer. "Downtown Yakima is going to explode," he told the Yakima Herald-Republic. "I mean, seriously, this city is prime for a major revival. A person would be foolish to not invest here."

In spite of this, Yakima still has an image problem among its own residents. Forty-five percent of Yakima County residents in a recent survey reported having a negative perception of their county, finding that good-paying jobs and opportunities for advancement are few and far between.

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© Washington CEO Magazine 2008