Doug Yost, director of real estate investments for Spokane-based Centennial Real Estate Investments, says he expects all work at The M, the former Macy’s building at 608 W. Main downtown, to be completed by October.

However, Yost says plans call for the completion of the residential third floor in early May, with the building’s first tenants able to move in that month.

“The first two floors are retail, and floors three through 10 are residential,” Yost says. “For the residential, as the year goes on, the plan is to finish one floor after another moving up. So, after the third floor is complete, then the fourth will be done next and so on.”

The project’s 114 residential units range in living space from 750 square feet to 1,600 square feet, Yost says.

Monthly rental rates haven’t been determined, but he estimates they will be in the area of $1.55 per square foot, which would create a pricing range of $1,160 per month to $2,500 per month. 

Yost declines to disclose the cost of developing the project. Permits issued by the city of Spokane for the redevelopment project total more than $33 million in valuation.

Yost also declines to reveal retailers that have committed to take space there. However, the city of Spokane recently has issued a building permit for tenant improvements valued at $756,000 for a Nike store on the ground floor of The M.

In June 2016, Centennial Properties announced it had agreed to buy the Macy’s building, located on the north side of Main Avenue between Wall and Howard streets.

Spokane-based Walker Construction Inc. is the general contractor on the Macy’s building renovation. NAC Architecture PS is the project architect, and the Spokane office of Seattle-based DCI Engineers Inc. is the project engineer.