Fortune Design & Development LLC is seeking environmental approval for a proposed five-story, 259-unit apartment project at a vacant 5.5-acre site in Spokane Valley, according to a pre-development permit application on file with the city of Spokane Valley.

The development, dubbed Centennial Lofts, will be located at 1215 and 1229 N. Flora, on the west side of Flora Road, north of Interstate 90, and about two miles east of the Spokane Valley Mall.

Representatives of Fortune Design & Development, an American Fork, Utah-based real estate investment company, couldn’t be reached immediately for comment.

Preliminary planning information lists a construction value of $8.3 million, however, recent apartment construction projects in Spokane County have been valued in excess of $150,000 per unit, which could put the value of Centennial Lofts at closer to $40 million.

Fortune Design & Development purchased the two parcels of land, where the 155,000-square-foot building is planned, for a combined price of $2.1 million in 2020, Washington state tax information shows.

In August 2023, three years after the company purchased the property, two residential structures and three accessory buildings at the site were demolished by Swinerton Builders, permit information shows.

The Spokane office of DCI Engineers has applied for environmental approval for the apartment project.

Construction of Centennial Lofts is expected to begin in 2024, environmental application information shows.

In addition to the 259 middle-income housing units proposed, design plans show that Centennial Lofts will have a pool and over 370 parking spaces.

Once complete, the Centennial Lofts development is projected to generate 1,189 weekday trips with 101 peak hour trips in the afternoon, according to environmental application information. The development will be accessible via two driveways along Flora Road.

After the environmental permits for Centennial Lofts are approved, the next steps to move the development forward includes seeking permit approval for grading, mechanical, utility, electrical, and building permits.

Project updates:

•Pharmaceutical manufacturing and packaging company Jubilant HollisterStier LLC has applied for a $90 million expansion that will add a fourth injectable fill line to its facility at 3525 N. Regal, in Spokane.

The expansion plans call for the construction of a 160,000-square-foot, two-story addition with support spaces and exterior improvements, according to permit information on file with the city of Spokane.

The addition will double the company’s injectable filling capacity by 2025, the Journal previously reported.

IPS-Integrated Project Services LLC is the architect for the expansion project, and Lydig Construction Inc., of Spokane Valley, is the contractor. The Seattle office of Kimley-Horn and Associates Inc. is the project engineer, permit information shows.

The Line 4 expansion project is the company’s second facility expansion following the $92 million, 50,000-square-foot addition for a third high-speed injectable fill line, which was permitted in September 2022.

•The first phase of residential units at the River Landing at Mirabeau multifamily community have been fully leased, according to a press release from development company Cowles Real Estate.

River Landing at Mirabeau is located at 13809 E. Carlisle, in Spokane Valley, east of CenterPlace Regional Event Center, in the Mirabeau Park neighborhood.

Phase 1 includes 17 apartments and one model unit. Pre-leasing has started for Phase 2, which includes 24 one-bedroom and two-bedroom apartments. Phase 3 construction for River Landing’s townhome style residential units is anticipated to be completed by year-end.

•Spokane-based Travis Pattern & Foundry Inc. is planning a facility expansion with a new $2.2 million, 6,000-square-foot addition, according to commercial pre-application permit information on file with Spokane County.

Travis Pattern & Foundry is an aluminum castings company founded in 1922. The company operates a facility at 1413 E. Hawthorne Road, in North Spokane. The 170,000-square-foot campus lies east of Newport Highway and west of the former Kaiser Aluminum Corp. Mead plant that closed in 2000.

Garco Construction Inc., of Spokane, is the contractor on the expansion project, and Jason McDonald, an architect with Garco, is listed as the project architect, permit information shows.