The city of Spokane Valley recently has issued building permits valued at a total of $35.5 million for two big phases to neighboring, but separately owned apartment complexes.
One set of permits is for the $20.3 million, 192-unit second phase to Bella Tess apartments, at 17016 E. Indiana Parkway. The other is for the $15.2 million, 132-unit Riverhouse II Senior Living apartments, at 16807 E. Mission.
The projects are across the Indiana Parkway-Mission Parkway couplet from each other. Developers of the two projects couldn’t be reached immediately for comment.
The Bella Tess project includes two three-story apartment buildings with 36 units each and five three-story apartment buildings with 24 units each.
The project site is near the southwest corner of Indiana Parkway and north Flora Road.
The project also includes six garage structures ranging in size from 1,600 square feet to 3,500 square feet of floor space.
Bella Tess LLC, of Spokane Valley, is listed on the permit as the project owner and contractor. The company is headed by Dennis Crapo, who owns Diamond Rock Construction Inc., of Spokane Valley, which developed the adjacent $17.5 million, 252-unit first phase of Bella Tess.
Bella Tess’ website says apartments range from 540-square-foot studio units to 1,300-square-foot, three-bedroom units and have monthly rents ranging from $800 to $1,500 a month.
In the Riverhouse II Senior Living project, all units will be constructed in a single four-story building, says Luis Garcia, development service coordinator for the city of Spokane Valley.
Garcia says the project is described in the permit information as market-rate, independent-living apartments targeting senior renters.
The project developer and owner is Enjoy! The River LLC, a Scottsdale, Ariz.-based real estate investment company headed by Fritz Wolff, whose family-run The Wolff Co. moved to Scottsdale from Spokane about 15 years ago.
Wolff Co. is a real estate private equity company that has invested in, acquired, or developed more than 120 multifamily properties with more than 30,000 living units, the company’s website says.
The Seattle office of Menlo Park, Calif.-based Katerra Construction LLC, is the contractor on the Riverhouse II project, and Bernardo|Wills Architects PC, of Spokane, designed it.
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