Developers are planning to increase the housing inventory on Spokane's lower South Hill with a $20.5 million, 94-unit multifamily complex, dubbed the Summit Apartments, says Josh Cochran, co-owner of CM Development & Construction LLC.

Cochran, who also is principal and chief investment officer at Cochran Capital, says the apartment project is part of an active development portfolio of six different multifamily developments being planned or underway in Eastern Washington valued at about $170 million total.

The Summit Apartments are planned for construction in a designated Opportunity Zone at 819 S. Hatch, on over two acres of land about a half-block northeast of Wisconsinburger. Cochran says the vision for the site is to construct two, four-story buildings and a clubhouse. 

In all, 94 total units are planned, including 22 studios averaging 540 square feet in size. The complex also will hold 48 one-bedroom units averaging 730 square feet in size, and 24 two-bedroom units with an average of 905 square feet.

Over 100 parking spaces will be constructed in a mix of surface, garage, and carports, he adds. 

Cochran is especially proud of the clubhouse design and other planned amenities such as indoor and outdoor seating that will create a coffee shop atmosphere, a community gym, a manager's office, and a mail room. 

The property also will have a secured gate and the units are designed to offer between 10% and 15% more living space compared to other multifamily projects underway in the area, asserts Cochran, who adds that investing in spacious units is a strategic move for the development business.

"An apartment might be somebody's home for a very long time," he says. "We want to make these apartments feel like home, so we just try to make everything a little nicer to accommodate that for folks."

CM Development is the general contractor for the Summit Apartments project, and Press Architecture LLC, of Spokane, is designing the property. Whipple Consulting Engineers is providing civil engineering services.

Construction of the complex is expected to begin in spring 2026, as soon as the ground thaws, followed by the demolition of a couple existing structures at the site. The property will take about 15 months to complete, he says.

Developing in an Opportunity Zone will offer tax savings for investors, who will be able to defer capital gains taxes for up to 18 months, Cochran explains. A big draw is the elimination of capital gains taxes, which can save investors about 40%, he adds.

Developing the property atop a rocky hill is expected to bring challenges, he explains. Construction will involve extensive clearing and grading, flattening the site, and bringing utility services up through rock, which is expensive, he adds.

"A lot of folks say they want to expand affordable and workforce housing, but, some folks are actually acting on it, and the city of Spokane has been very proactive there," says Cochran of the tax exemption program offered by the city.

The Summit Apartments property is owned by 819 S Hatch LLC, a separate real estate entity that purchased the site for $1.05 million, in January 2025, according to Washington state tax records.

Before entering the real estate industry, Cochran was a dentist who owned six clinics in Spokane County with about 160 employees. Seven years ago, he began to steadily transition out of the medical field until finally exiting completely this year to follow his passion for development, he explains.

Each of his projects must have a "compelling vision" that is unique and contributes positively to the community for Cochran to commit to the idea, he says.

"Besides making cool projects for for folks, every one of them has to has to get me excited," says Cochran.