Greenstone Corp., the big Liberty Lake-based development company, plans to build a 100-home planned-unit development in the Albion Heights neighborhood in southwest Spokane.


Jim Frank, president of Greenstone, says the development will be located on 22 acres that the company bought from the city of Spokane through a public-bid process late last month. With an offer of just over $1 million, Greenstone beat out three other bidders for the land, which is located along Grandview Avenue and is situated on a bluff just south ofand partially visible fromInterstate 90.


Frank says some of the lots in the development will have views of downtown Spokane to the east, while some others will be adjacent to Grandview Park.


Its on a beautiful natural setting with some rock outcroppings and pines, Frank says. We spent quite a bit of time in design to make it sensitive to those features.


The homes in the planned development are expected to be priced at between $200,000 and $400,000, with homes on view lots likely commanding the higher prices, Frank says. The homes themselves likely will range in size from 1,300 square feet of floor space to 2,800 square feet of space.


At this stage, plans call for all of the homes to be detached single-family structures, but Greenstone is considering building a small number of townhouses in part of the development, Frank says.


As part of the land transaction, Greenstone agreed to make improvements to Grandview Avenue. Also, Frank says, the company is talking with a neighborhood group about improvements it wants at Grandview Park and plans to make about $80,000 in upgrades at the five-acre park.


Infrastructure improvements in the subdivision could start yet this year.


Greenstone is among the largest residential developers in the Spokane area and currently has housing projects under way in Liberty Lake, on Spokanes North Side, and Spokanes South Hill, as well as large subdivisions in Coeur dAlene and Post Falls.