The developer of a newly proposed five-story, $4.5 million mixed-use building on the lower South Hill has revised original outlined plans first submitted to the city of Spokane a little more than two years ago.

The development, named the Vinegar Flats Public Market, would be constructed on a vacant site at 2020 W. Seventh, which is uphill and east of the intersection of Seventh Avenue and Inland Empire Way and visible along the south side of Interstate 90.

The Spokane-based architectural firm Hurtado|Hissong Design Group LLC first submitted plans to the city in October 2015 with the hopes of breaking ground during the second quarter of 2016 and finishing the project in 12 to 16 months.

Josh Hissong, who co-owns HDG with Armando Hurtado, declines to comment on the new vision for the project.

The most recent pre-development application submitted to the city, however, shows the proposed project would be reduced in size and cost less than the original seven-story, $12 million project.

The latest plans call for what appears to be 14 residential units on each of the second through fifth floors, the application shows.

As envisioned, a food court with ethnic restaurants would be on part of the first floor, and plans still call for an 11,800-square-foot underground parking garage.

State records show Namva Chan leads 2020 W 7th LLC, the company that owns the property.

In a story published by the Journal two years ago, Chan and her nephew, Jonathan Chan, said they were spearheading the project and continuing to seek investors in it.

Now, Jonathan Chan, in an email to the Journal, only says, “Everything is looking great, and we have made a lot of progress.”

Two years ago, in an interview with the Journal, Chan said investors were hoping to use money from an employment-based immigrant investor program known as EB-5 to monies as one source of funding for the project.

“We want to bring youth, energy, excitement and cultural diversity to downtown Spokane. We are hoping that a successful EB-5 development will lead to additional projects, new sources of capital investments, and create new jobs for our community. Our project has the potential to brand Spokane to a larger international audience,” he said then.

Through an EB-5 program, a foreign investor can invest in a limited partnership that develops a large project for the prospect of securing U.S. citizenship.

“We’re also looking to local entrepreneurs and institutional investors as possible sources of funding. A few of our investors are citizens of China. However, we are not limited to investors from China,” Chan said.