Two unnamed Oregon investors are in the process of selling their interest in a proposed, about 250-acre mixed-use development project in Post Falls to Tullamore Properties LLC, which is managed by Vision First LLC, of Eagle, Idaho.


Separately, the final parcels of the 48-acre Stateline Business Park previously owned by the same Oregon businessmen also will be sold this month at a combined price of about $3.7 million, says Monte Risvold, vice president of Tomlinson Blacks North Idaho commercial division, who handled the transactions.


The proposed plat plan for the mixed-use development, to be called Tullamore, includes 850 to 900 residential living units, numerous retail and office spaces, an assisted-living facility, four parks, and a church site, says Ken Elliott, legal counsel for Vision First. That proposed plat plan will be the subject of a public hearing before the Post Falls planning commission in October.


Elliott says the partnership hopes to gain planning commission and City Council approval in the next few months and begin construction on the first phase of the proposed three-phase project this fall. He says he anticipates completion of the project within five years.


Risvold estimates the value of Tullamore, which was originally announced under another name late last year, will be between $35 million and $50 million when its completed.


Originally called Avondale Crossing, the project consists of a parcel of land about one mile wide and one-half mile deep between Poleline and Prairie avenues on the west side of state Route 41, says Risvold. He says the property includes a three-quarter mile stretch of highway frontage, but not the northwest corner of Poleline and state Route 41, or the southwest corner of Prairie and the highway, which are owned by other entities.


Both Elliott and Risvold decline to disclose the price of the property sale between Tullamore Properties and the Oregon investors, but Risvold says the property was originally listed at $7.2 million.


Elliott says the multi-use plat plan includes three smaller community parks, plus a six-acre park in the middle of the development that the owners plan to donate to the city of Post Falls.


Based in Vancouver, Wash., since 1998, Vision First moved its headquarters to the Boise suburb of Eagle two years ago. Vision First is the financing and managing arm of several other such projects in Washington, Idaho, and Oregon, says Elliott. It employs 15 people.


The plan is for Tullamore Properties and Vision First to develop the infrastructure, then sell lots to developers.


The city of Post Falls has had recent experience in studying such proposed large plat developments, with the 1,600-unit Montrose development north of Seltice Way and west of Chase Road, and the 1,120-unit Fieldstone project at the northwest corner of Poleline and Greensferry Road, both of which currently are being built, says Collin Coles, senior planner for that city.


He says that in October the planning commission will either make a recommendation about the Tullamore project to the City Council or ask the developers for more information.


Meanwhile, about 18 businesses, including building-materials chain 84 Lumber Co., which purchased 20 acres of the 48-acre Stateline Industrial Park to erect eight buildings there, have agreed to buy space in the business park, Risvold says.


Coeur dAlene-based Integrated Ideas & Technologies Inc. also bought three lots in the park, says Risvold.