Longtime Coeur d’Alene homebuilder Aspen Homes & Development LLC is constructing a new $1 million office building near the Spokane River in the Riverstone development, says Tom Stam, an Aspen Homes principal.

Aspen Homes is acting as its own contractor on the two-story, 8,800-square-foot project at 1831 Lakewood Drive, and Eric Hedlund Design LLC, also of Coeur d’Alene, designed it, Stam says.

Aspen Homes and a separate company, Coeur d’Alene-based Labor Consultants International Ltd., each will occupy roughly equal space in the building, he says.

Labor Consultants assists employers in obtaining visas for foreign workers to fill jobs that are difficult to fill with U.S. workers.

Stam and Terry Forrester, a Labor Consultants principal, have formed Riverstone Partners LLC, which will own the building. 

The companies plan to move into the new building in November, Stam says.

Aspen Homes currently is located at 1038 Northwest Boulevard, and Labor Consultants is located at 1137 N. Third Street.

Aspen Homes specializes in constructing custom homes that range in price from $300,000 to more than $2 million. “Our niche is higher-end $500,000-plus homes,” he says.

The company currently has active projects in the Pine Pointe Phase II addition in the Coeur d’Alene Place development, in northwest Coeur d’Alene, and the Stone Creek at Hayden development, west of the Avondale Golf Club course in Hayden.

Aspen Homes has previous experience with commercial projects, including constructing the 10,300-square-foot, $2 million Aspen Ridge multitenant office building five years ago at 22106 E. Country Vista Drive, in Liberty Lake.