Dean Kirkland Development

Dean Kirkland – 192nd Plaza

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A trickle of new development continues to feed the construction pipeline in parts of Clark County. Along east Vancouver’s 192nd Avenue corridor, the $12 million 192nd Avenue Plaza retail center is set to open this fall.

Signs of recovery

A trickle of new development continues feed the pipeline in parts of Clark County, such as east Vancouver’s 192nd Avenue corridor, according to Dean Kirkland, co-developer of 192nd Avenue Plaza with business partner Tom Files.

Kirkland and Files expect their $12 million retail complex to open this fall, fully leased. A larger, adjacent development, the $50 million 192nd Avenue Station, could be under construction by the start of 2011. The project continues to generate interest from retailers, restaurants and health care providers, which Kirkland and Flies take as a sign of business expansion and growth.

“The market has reconfirmed that there is significant interest in the site,” Kirkland said.

Other developers hope signs of growth in the retail sector will be the precursor of more office, industrial and condominium projects.

“We’re still a couple of years off,” said Barry Cain, president of Tualatin, Ore.-based Gramor Development.

The company and a group of locally based private investors are planning a $1.3 billion redevelopment of downtown Vancouver’s 32-acre former Boise Cascade site. Cain said construction could be two or three years away for the waterfront residential project, which will include high-rise condominiums, a park, hotel rooms and retail and restaurant space.

In 2009, Cain predicted the waterfront project would create 12,000 construction jobs over its development time line. The work was scheduled to start in 2011 before the collapse of the market for residential condominiums.

Cain, whose company recently secured $60 million in financing to build a retail center in Beaverton, Ore., said he sees construction lending as a sign that the market is stabilizing.

“The retail market is a little healthier than the office and condo market. That will take a little longer to get going,” Cain said.

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