An $11 million, 78-unit multifamily complex targeting outdoor enthusiasts and remote workers is under construction in Spokane Valley.

Construction began in December on the project, dubbed The Preserve on Park, which consists of two 37,000-square-foot apartment buildings on 3 1/2 acres of land at 319 S. Park Road, says Josh Cochran, co-founder of MAC Development & Construction. 

The development is situated south of Interstate 90 on a portion of the northwest border of the Dishman Hills Natural Area. 

Crews are currently installing the buildings’ foundations following completion of preliminary groundwork. Next, workers will begin framing the residential structures. 

Construction of the multifamily complex is expected to wrap up by May 2027, Cochran says.

Spokane-based MAC Development & Construction, which does business as CM Development & Construction LLC, is the general contractor for the project, says Cochran. Spokane Valley-based Whipple Consulting Engineers Inc. is the engineer, and Mercier Architecture & Planning, a trade name for N.I. Consulting LLC, also of Spokane Valley, is the architect. Spokane-based Element Excavation Inc. is also involved in the development.

As envisioned, one of the two buildings will feature an office, storage space, and a clubhouse area, he says. Both buildings will have three stories and sit at a maximum height of 50 feet. The project will also include 128 parking stalls. Retaining walls will be included to keep rock and debris from Dishman Hills in place, he adds.

One-bedroom units will average 750 square feet in size, while two-bedroom units will average 950 square feet. Cochran declines to disclose the rental rate for the apartments.

The Preserve on Park’s amenities include a new trailhead leading to the Dishman Hills Natural Area, which Cochran says will provide direct access to residents interested in getting outside after a day’s work.

“That’s the primary reason (we chose that area). We’re bringing nature-connected apartment living to Spokane,” Cochran explains. “Hiking, biking — it’s a very dog-friendly, dog-focused development.”

For renters working from home, the clubhouse will include a co-working space, billed as a shared coffee area, and four office spaces that can be rented out, he adds.

“In this modern day and age, with Zoom and cloud AI, people need somewhere to work, and sometimes they want to get out of their apartment,” Cochran says. “It’s nice to have a clubhouse and a large co-working space and independent offices for rent, for those that want their own office as well.”

Cochran purchased the property through Spokane-based real estate entity 4th & Park LLC for $1.1 million in 2022, according to tax records on file with Spokane County.

“There’s no other for-rent housing community that I know of that will be right on a 530-acre protected preserve,” he contends. “Being five minutes from I-90, so you can get somewhere quick, but when you want to go home and go for a mountain bike ride or take the dog for a hike, it’s literally out your front door. It’s the best of both worlds.”

Real estate investment firm Cochran Capital is funding the development and is the project’s primary investor. Cochran is the firm’s founder and serves as chief investment officer.

The Preserve on Park is one of several real estate projects in Cochran’s portfolio totaling $400 million under development in Spokane County and the Tri-Cities this year, he says. Other investments in the Spokane area include the Summit Apartments, a 94-unit multifamily complex on the South Hill, and a planned ski village development near 49 Degrees North Mountain Resort. 

Cochran, a former dentist with six clinics and about 160 employees in Spokane County and Hayden, fully transitioned to real estate development in 2025, the Journal previously reported.

“I like to build things,” he says of his career change. “I love the tangible, positive impact for the community. You get to see (what you build); you get to take your kids by. It’s just great.”