Five Below Inc., a discount retailer known for pricing most of its items at $5 or less, is planning a new store in North Spokane, according to permit applications on file with the city of Spokane.

As planned, interior and exterior tenant improvement renovations valued at $270,000 will update an 8,500-square-foot retail space at Northtown Square, a retail strip mall at 4727 N. Division. The new retail space is flanked by a Petco store and a DSW Designer Shoe Warehouse store at the property, which is located west across Division Street from NorthTown Mall.

Interior remodel work includes the demolition of previous tenant fixtures, finishes, and infrastructure in preparation for new Five Below fixtures, finishes, electrical, plumbing, nonbearing partitions, and racking, plans show.

An estimated opening date was not available in the application details.

A representative of Five Below did not immediately respond to the Journal's request for comment.

A contractor for the project hasn't yet been determined; Spokane-based Press Architecture LLC is designing the tenant improvement project, and the Spokane office of Seattle-based DCI Engineers is providing engineering services.

As previously reported by the Journal, the Philadelphia-based retailer opened its first Spokane-area store last year in Spokane Valley, in a 12,200-square-foot former Party City store at the Evergreen Crossing shopping center, at 13806 E. Indiana, west of the Spokane Valley Mall.

Founded in 2002, Five Below has over 1,900 stores in 46 states.

Separately, another project is under consideration at the NorthTown Mall, at 4750 N. Division. A permit application submitted to the city in January calls for the build out of a new Box Lunch store on the mall's second floor. Box Lunch is a trade name for Hot Topic Inc.

Tenant improvements to the 2,600-square-foot space include installing tenant fixtures, track lighting, and new storefront entry and glazing, with a project value of $180,000, according to application information.

The proposed new retail project in North Spokane follows the opening of another major retailer, Ashley Store & Outlet, which opened in the former Macy’s department store space at NorthTown Mall. As reported by the Journal of Business, Broad River Retail, the South Carolina-based Ashley licensee that developed the three-level, 101,000-square-foot furniture store, claimed the NorthTown Mall store is one of the largest Ashley locations in the world.

The NorthTown Mall Ashley Store features a large showroom showcasing Ashley collections and an Ashley Outlet offering furniture at discounted prices.