A piece of land nestled in a quiet corner of Peaceful Valley is being eyed for a $2 million residential development, says Richard Palmer, owner of Palmer Enterprises LLC.

Palmer says he’s in talks with a few developers and designers about residential plans for the land, located on the 2400 block of west Riverside Avenue, just north of the Browne’s Addition neighborhood and about a mile west of downtown Spokane.

He says the 1.25-acre site could accommodate either four single-family, row house-style homes on 50-foot-wide lots, or eight homes on narrower 25-foot-wide lots.

“They could be single-family dwellings or multifamily dwellings, either duplexes or triplexes,” Palmer adds.

Preliminary design plans show row-style homes with a first-floor garage, second-story kitchen, dining and living room spaces, three bedrooms on the third level, and an optional rooftop deck.

Palmer says he typically builds 1,200-square-foot structures with either unfinished basements, loft spaces, or rooftop garden spaces, and the proposed row-style houses will lend themselves well to that footprint.

“With a three-story tall row house with a rooftop garden, there will be commanding views of the river valley,” he says. “It’s very appealing and increases square footage without increasing the footprint of the house.”

The proposed row-style homes would have an Italianate architectural design on the exterior façade, Palmer says.

“We want to build something substantially more ornate and much more architecturally interesting in the neighborhood,” he says. “Everyone loves living in something with curb appeal.”

Palmer says he’s taking advantage of an opportunity recently allowed by the city of Spokane to build multifamily housing on single-family plots of land.

“The city loosened up its rules on multifamily dwellings on single-family lots in an effort to increase the housing situation in Spokane,” he says. “At one point, I was going to build a couple of (custom homes) on the lots. One of which was going to be my retirement place. But I shifted gears on that, and now I have four lots up for sale.”

Palmer says the next step to develop the property is to secure the $2 million needed for the project through private investors and buyers.

A construction timeline hasn’t been set, he says.

Palmer Enterprises will be the contractor for the future development, he says.