Fourth Avenue Capital LLC, a new player in multifamily housing development here, is proposing a large complex in Liberty Lake that will add 240 units to the housing stock, says Chris Rossman, managing partner and head of development at the Spokane-based company.
That development, plus two other apartment projects also under consideration in Spokane, are expected to have a total of 350 residential units, permit information and environmental planning documents on file in Spokane County and the cities of Spokane and Liberty Lake show.
In Liberty Lake, Rossman says the apartment development will have 15 two-story buildings, each with 16 units.
Tentatively dubbed Fourth Avenue Liberty Lake Apartments but referred to internally as Meadowwood, the complex will be the company’s first development, Rossman says.
One- and two-bedroom units each will comprise 40% of the unit mix, and most of the rest will have three bedrooms, he says.
The development will occupy over 13 acres of vacant land at 24085 and 24091 E. Mission, in the northeast quadrant of the Meadowwood Technology Campus.
Rossman says Fourth Avenue has received design-review approval and environmental approval and has completed land-use entitlements with the city of Liberty Lake. He says the company plans to file building permit applications before the end of October.
“Ideally, we’re planning to start construction about a year from now and per our existing schedule, we’re anticipating that construction would span approximately 24 months from start to finish,” he says.
Rossman says a final construction cost estimate will be disclosed when permits are filed.
Baker Construction & Development Inc., of Spokane, is partnering with Fourth Avenue to develop the apartments, Rossman says.
“They have an active role in working with us on design concepts and overall program to ensure that we can be as cost effective as possible,” explains Rossman.
A contractor hasn’t been hired yet, although Rossman says that Baker Construction likely will provide building services.
Chris Olson, of Spokane-based olsonprojects PLLC, designed the development, Rossman says.
Fourth Avenue Capital was drawn to build in the Liberty Lake area for its residential lifestyle and the proximity to job centers in Spokane and Coeur d’Alene, he says.
He also notes that the Meadowwood development site is the last of the vacant land within the master-planned technology park.
“We have the opportunity to go into a fully developed community with jobs and an adjacent school, so the placemaking has already been provided within the technology campus,” Rossman says.
About 15 miles west of there, Spokane-based real estate investment company East Horizon LLC is proposing a $12 million, 72-unit apartment complex to be located on about 5 acres at the southeast corner of Buckeye Avenue and Havana Street, preliminary planning information on file with Spokane County shows.
Three 19,200-square-foot, three-story buildings plus a 2,000-square-foot clubhouse are planned for the vacant parcel of land.
The design-build team includes Spokane-based Trek Architecture and Spokane Valley-based T.W. Clark Construction LLC, according to application information.
Just over two miles northwest of that development, in Spokane’s Hillyard neighborhood, a building permit application filed with the city by Spokane-based real estate company Willie Willey LLC is under review for a $4 million, 29-unit complex planned at 4747 N. Haven. The project is tentatively named Great Northern Flats.
Pondera Architecture PC, of Spokane, and the Spokane office of TD&H Engineering are providing design and engineering services, respectively. A contractor hasn’t been selected for the 23,000-square-foot building, permit information shows.
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