The Chelan Douglas Regional Port Authority (CDRPA) is asking the community  to comment on their survey regarding their proposed incubator spaces, serving as their Trades District at Pangborn Airport Business Park.

CDRPA partnered with Design West Architects to redevelop this 8-acre site formerly owned by the cryptocurrency company Giga Watt.

Giga Watt left the pods behind after declaring bankruptcy in 2018.

In 2021, the CDRPA CEO Jim Kuntz shared that a bankruptcy judge awarded them 25 ‘pods,’ with some constructed, half finished, or were just foundations.

In 2022, CDRPA received approximately $5 million in grant money from the Economic Development Administration to build out the remaining 13 unfinished pods.

CDRPA are looking to repurpose the pods as production spaces for small businesses or start-ups, such as metal/woodworking workshops, plumbing or electrical trade shops, bakeries, microbreweries, wineries, food trucks, coffee shops, or art studios.

“There are some requirements, the size of the business is based on revenue, number of employees, years in business, and then if they are accepted and part of the incubator program, they are able to rent the space at below market rates,” CDRPA Public Works and Capital Projects Manager Stacie de Mestre said.

Prospective tenants would sign a five-year lease through this incubator program, with rent starting at $0.55 per sq. ft. per month and would increase annually by $0.10 per sq. ft. per month to match market rates by the fifth year.

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If the tenant agrees to stay on after their five-year lease, rent will increase 3.5% annually.

The incubator program also includes business counseling through the Small Business Development Center. 

Lease applications will become available by January of 2024.

Design work should be completed by June of 2023, with construction scheduled between September 2023 through June of 2024. 

The survey and additional information can be found here.

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