Seattle Boomers Moving to Bremerton?

[TJ_98370]

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What could be Bremerton's biggest housing development in decades is getting pulled to the front burner.

If approved and built out completely, The Ridge at West Hills, located south of Kitsap Lake and Werner Road and west of Wright Creek Business Park, would have as many as 1,126 homes on 300 acres, according to early papers filed with the city of Bremerton.

The project is being developed by Triway Enterprises of Olympia........

........(Bremerton mayor) Bozeman encouraged Triway to design a senior community for retiring baby boomers from King County......

Interesting. Is there really a housing market for retiring boomers moving to Bremerton from King County?
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[redmondjp]

This is nothing more than wishful thinking at this point. The entire project hinges upon the developer's ability to obtain financing for the whole deal, and I suspect that this will be increasingly difficult as our current financial crisis continues to unwind and billions of dollars simply vanish into thin air.

You can put about as much stock in this kind of announcement as you can those Boeing press releases stating that XYZ Airlines is going to buy oodles of airplanes five years from now--it's great to hype the stock price, but it's not real until the deal is done and the money's been made.

[Ubersalad]

hah, Bremerton!

[TJ_98370]

To be fair / honest, you can buy a house with equivelant amenities for about 2/3 the price or less in Central Kitsap (excluding Bainbridge) that you would pay in the immediate Seattle area. No big surprise there.

[ira s]

One of my theories of real estate investing is to follow artists and the gay community.
It's worked for Fremont and Capitol Hill. Bremerton has an emerging arts community, great views, low real estate prices, a great Italian restaurant, and a cool mayor. He was the mayor of Bellevue till the late 90's...Certainly, lots of downtown Bremerton is really scuzzy, but once it gets discovered by the gay community, then maybe it's time to buy?