Clark County Set to Allow Development of 2,000 Acres Near I-5

Clark County Set to Allow Development of 2,000 Acres Near I-5

As Vancouver and Clark County continue to grow their populations, so do demands to develop otherwise unused land. One such plot is the 2,000-acre piece of land near the Washington State University Vancouver Campus, between 179th St. and I-5. Now, The Columbian reports that the Clark County Council has voted for a resolution to pay for infrastructure improvements that would allow the land to be developed.

A public-private partnership between the county and developers

So why hasn’t this land ever been developed? The answer lies in a designation called urban holding. Land under urban holding is not permitted for development until infrastructure can be improved that can support the population increase.

This new resolution provides for joint payment by developers and the county for infrastructure upgrades—$26.6 million from developers and $39.9 million from the county. On top of that, developers would agree to build a certain amount of housing and commercial space once the new infrastructure is completed.

Complex legal agreements for real estate development

Needless to say, the project has more than a few hurdles to clear before anything comes to fruition. However, as growing populations place increasing demands on urban land use, these sorts of public-private partnerships are only going to become more important. When it comes to complex real estate deals, experienced real estate attorneys like Vancouver attorney John L. Davis PLLC are essential to making sure that projects have a strong legal foundation to build on. If you need a real estate attorney in Vancouver or Clark County, call (360) 597-4740 today to schedule a consultation with an attorney who can help you get it done.