The Trades District
at Pangborn Airport Business Park
BACKGROUND
In spring 2021, the Chelan Douglas Regional Port Authority (CDRPA) completed an adaptive reuse feasibility study for an 8-acre, partially constructed site previously leased by Giga Watt for a block chain facility. The Giga Watt block chain server project was never completed, and the site remains in partial development status. Based on the results of the study and receiving two key grants, the CDRPA is transforming this site into a productive asset for the community by modifying and completing development to serve businesses with a special emphasis in serving underserved businesses.
The 8-acre former Giga Watt site is located at the Pangborn Airport Business Park. It includes 25 pods in varying stages of construction. In total, the 25 buildings, if fully enclosed as is, include nearly 31,000 square feet of potential business space.
The CDRPA has partnered with Design West Architects to create a plan to redevelop the site to serve small businesses that need reasonably priced production space. This would include start-up businesses and existing small businesses needing to expand.
Target tenants would include:
Workshop spaces (metal shop/woodworking/cabinet shops etc.)
Specialty trade spaces (HVAC/electrical/plumbing/ contractor shops)
Production shops (bakery/microbrew/wineries)
Limited retail (coffee shop/art studio/food trucks)
The CDRPA believes this is an ideal opportunity to assist in the growth of underserved, Latino owned or young startup businesses through an incubator program. North Central Washington has a diverse, entrepreneurial culture and the Pangborn Airport Business Park can uniquely aid in the development and growth of these businesses that serve our communities.
The CDRPA has secured funding, at the federal and state level, to complete Phase 1 of this project which includes building out 12 pods. The project is currently at the schematic design level as shown below.
The objective is to build-out each structure so that it provides self-contained space suitable for a variety of business needs (including restrooms, HVAC systems, ample power, natural lighting, overhead doors, on-site storage, and shared common areas such as outdoor parking and greenspace). Buildings will range from 1,590 square feet to 2,304 square feet.
CURRENT SCHEDULE
Design Complete: January 2024
Start Construction: June 2024
Lease Applications Available: November 2024
Construction Complete: March 2025
INCUBATOR PROGRAM
Upon leasing space in the Trades District tenants will enter into a five-year incubator program. The program will be managed by the CDRPA with technical assistance provided by the Small Business Development Center. Each incubator program will be tailored to the needs of the tenant and will include, however is not limited to, business plan assessment and assistance, accounting assistance, marketing plan review and assistance and management training.
While in the incubator program building rent will begin at a below market rate and will increase annually to reach market rate in year five.
At the end of the fifth-year tenants will graduate from the program. If the tenant desires to remain in the building after graduation rents will be at market rate with an annual increase of 3.5%.
To be eligible to lease space in the Trades District Tenants must meet the following criteria:
Business activity must be compatible with current zoning regulations for the Pangborn Industrial Service Area
Have maximum annual business income of $250,000 or less per
Have less than 10 full time employees at time of application
Be a registered business in the State of Washington prior to application
Leases will be expected to have a maximum term of three to five years
Additional factors that will be considered (Not requirements)
New startup business
Business currently in operation, but without a commercial business location/store front
Family owned/multigenerational business
Business in operation for less than five years
CONSTRUCTION PROGRESS
