POULSBO — Wal-Mart and The Home Depot may be the kings of the College Marketplace now, but their royal court will soon be joined by a sit-down restaurant and a hotel.
At least, that’s the latest word from Olhava and Associates president Mark Zenger, who has led the development of the western Poulsbo retail center.
“All of the commercial is in, and a sit-down restaurant and hotel are in the works as well,” Zenger said.
Those two entities are components of the development’s master plan, which was approved by the city in 1998.
“The commercial guys always come first. Then they’re joined by everybody else,” Zenger said.
“Everyone else” is what excites Poulsbo City Councilman Ed Stern, who said the future holds great things for the development.
“The best is yet to come, which is the office park,” Stern said. “We’re talking about family-wage, community-based jobs and not having to commute across the Sound.”
Residents will be able to work in the community they live, which will provide a healthy amount of tax revenue, he said.
“It’s a win-win,” Stern said.
Barber Development, which purchased the two shopping areas just south of Wal-Mart and The Home Depot, is involved in the project as well, said president Andy Barber.
Taco Del Mar, Starbucks, Peninsula Credit Union, Sleep Country USA and Desert Sun Tanning Salon are among the businesses the development company has already been able to bring to College Marketplace.
Even though the final tenant list is slightly different than the company’s original projections, it was still a success, Barber said.
On the residential side, Quadrant Homes of Bellevue and the Kitsap County Consolidated Housing Authority are involved in constructing the residential development at College Marketplace, Zenger said.
The KCCHA will be building a 100-unit, 10 building mixed-income development, which will include one, two and three bedroom apartments near the Olympic College-Poulsbo campus, while Quadrant Homes is building 185 single family homes in the area bounded by State Highway 3, Viking Avenue and Finn Hill Road.
“It’s nice to have the housing authority involved, because there’s always a need for that type of housing,” Zenger said.
As College Marketplace continues to take shape, Greater Poulsbo Chamber of Commerce executive director Stuart Leidner said it has yet to have the detrimental impact on the city’s existing businesses which many residents feared.
“Each business district and individual business seems to be making their own transitions,” Leidner said.