L.B. Stone Properties Group’s luxury high-rise condominium project overlooking the Spokane River, Spokane Falls Tower, is advancing skyward and could be completed by Q3 2026, says sales manager Si Xiong.

“It’s a legacy project that we are all very passionate about,” says Xiong. “We want this North Bank neighborhood to be one of the most desirable neighborhoods in Spokane.”

The 12-story, 48-unit condo tower is located at 630 N. Lincoln, just south of the Wonder Building. The tower sits on 2.3 acres of river-view property and will include both underground and above-ground parking.

Construction began on the property in January 2024, and as of early August, crews have poured concrete up to the eighth floor. Brickwork has started on the first level, and the development is on track for completion between the second and third quarters of 2026. Walk-through tours for potential buyers are expected to begin in January 2026, Xiong says.

The tower will include a mix of residential units, including six studio units, 12 one-bedroom units, 23 two-bedroom units, and six three-bedroom units, with square footage ranging from 524 square feet to 3,144 square feet per unit. Some of the two- and three-bedroom units are described as penthouse condos.

There is also a reserved penthouse unit on the top floor.

Xiong declines to comment on the exact value of the project, but says it could be significantly higher than the value listed on permit information filed with the city of Spokane, which shows the 155,000-square-foot structure will cost about $21 million.

Individual unit prices will not be disclosed until the project nears completion, he says.

“We made the decision early on to release the pricing when the units are closer to being completed,” Xiong says. “We want to give potential residents the opportunity to see the quality and finishes and experience the views and amenities before they make any plans to purchase.”

Pricing details are expected to be available by the end of 2025, he says.

Spokane Falls Tower will have floor-to-ceiling windows, outdoor terraces, and community gathering places. Additional amenities include a fitness center, a pet washing room, and a pet-relieving area.

In addition to residential units, L.B. Stone Properties is considering adding a restaurant on the north side of the property.

“We’re in the process of looking at building a restaurant there,” Xiong says, adding that no tenant has been finalized. “It’s just a matter of if we find a restaurant that is the right fit.” 

Walker Construction Inc., of Spokane, is the contractor on the Spokane Falls Tower project. Seattle-based architectural firm CollinsWoerman designed the tower.

The design concept for the Spokane Falls Tower dates back to 2017 and includes multiple revisions.

“Initially, it was going to be three towers, then it was going to be two,” Xiong says. For feasibility purposes, Xiong says the group ultimately focused on a single tower.

The original proposal was for a $58 million, three-building high-rise complex, featuring a 24-story, 145-unit mixed-use tower above three levels of underground parking. But, as previously reported by the Journal, design plans were changed, in part due to building height restrictions in the city of Spokane.

Lawrence B. Stone Properties is a commercial development company owned by Spokane developer Lawrence Stone. As previously reported by the Journal, the Spokane Falls Tower site was purchased in late 2010 for $3.2 million by The Falls LLC, an entity also owned by Stone.

Xiong describes the location of the tower as desirable, and notes that it's within walking distance to The Podium Powered by STCU, the Spokane Veterans Memorial Arena, Riverfront Park, and multiple restaurants.

He says the luxury condos will add to the value of downtown Spokane.

“The tower is bringing new residents — many from outside the area — into Spokane’s urban core, boosting local spending power, creating jobs during construction and ongoing operations, and supporting nearby restaurants, shops, and cultural venues,” says Xiong. “By adding density, design quality, and high-value housing downtown, it strengthens Spokane’s tax base and reinforces the city’s reputation as a vibrant, desirable place to live and invest.”

Other projects completed on the North Bank in recent years include One Spokane Stadium, the 5,000-seat stadium located at 501 W. Gardner; the Wonder Building renovations, at 835 N. Post; renovations at the Papillon Building, at 908 N. Howard; and The Podium, at 511 W. Dean.