Market & Community Impact
The Tri-Cities continues to rank among Washington’s fastest-growing regions, with population growth of nearly 60% since 2000. Strong job creation, anchored by major research employers like Pacific Northwest National Laboratory, Kadlec Regional Medical Center, and a thriving agricultural sector, has fueled demand for new housing.
With limited new supply under construction, The Bob’s phased delivery will provide much-needed homes during a period of tightening vacancy rates, projected to fall to 5% by 2026. Residents will benefit from proximity to Columbia Center, the Columbia River, and major highways 240 and 182, offering both convenience and lifestyle.
Project Details
Located at 703 Columbia Park Trail, The Bob spans 7.2 acres and will include:
- 192 homes averaging 910 square feet, including studios, one-bedroom, and two-bedroom layouts.
- Clubhouse with leasing office, fitness room, and multi-purpose community space.
- Resort-style pool and spa, BBQ area, outdoor lounge, and dog park.
- 299 parking stalls, including seven garage structures with 33 enclosed spaces.
Construction will be delivered in three phases to allow staggered occupancy:
- Phase 1 (72 units + clubhouse): November 27, 2026
- Phase 2 (48 units): February 1, 2027
- Phase 3 (72 units): May 21, 2027
Quotes
“The Bob reflects SRM’s commitment to building communities that stand the test of time,” said Ryan Leong, President of SRM Development. “We’re excited to bring forward a project that not only adds much-needed housing but also enhances the lifestyle and vibrancy of Richland for years to come.”
“We’re proud to continue investing in the Tri-Cities, a region defined by growth and opportunity. Naming the community The Bob honors Robert ‘Bob’ Young, whose vision helped established the Tri-Cities as a thriving place to live, work, and connect. This project is about creating new housing that strengthens the community and supports its future,” said Grant Young of the Young family
About SRM Development
Founded in 1999, SRM Development is a privately held real estate and construction management firm specializing in multifamily, senior housing, affordable, and mixed-use projects across the western United States. With more than 3,000 residential units and 2,000,000 square feet of commercial space, SRM focuses on creating high-quality, community-centered developments that deliver long-term value to its investors and the local communities.
About the Young Family
The Young family has been a cornerstone of the Tri-Cities for decades, developing land, residential communities and commercial properties that have helped support and shape the region’s growth.
Media Contacts
Bryan Robinson – bryan@srmdevelopment.com – (509) 904-9812 Nick Wright – nwright@younginv.com – (509) 845-9411