Hayden developer Whitewater Creek Inc. has obtained permits to build two apartment complexes, with 152 living units combined and a total construction valuation of $13 million, in the Riverstone mixed-use community in northwest Coeur d’Alene, city records there show.
Whitewater Creek is acting as its own contractor on both projects, and ZBA Architecture PS, of Spokane, designed them. L&S Engineering Associates Inc. and Coffman Engineers Inc., both of Spokane, are providing engineering services on both projects.
Todd Prescott, president of Whitewater Creek, couldn’t be reached for comment.
Mark King, a principal at ZBA, says both projects will be completed next summer.
The larger of the two projects will be the $9.8 million, 114-unit Riverstone Place apartment complex, plans at the city show. The complex will take up most of the inside of John’s Loop, which connects in two places to Riverstone Drive in the western half of the 160-acre Riverstone development.
The Riverstone Place project will include five three-story apartment buildings with a total of 125,300 square feet of living space, a single-story 2,700-square-foot community building, and 16 single-story garages with a total of 22,200 square feet of covered space.
The other apartment project, Riverstone West III, is a $3.2 million, 38-unit affordable-housing development that will be located at the southwest corner of John’s Loop and Suzanne Road.
The Riverstone West III project site is across John’s Loop from the Riverstone Place project site. The Riverstone West III site also is next to the $7 million, 50-unit Riverstone West apartment complex that Whitewater Creek developed two years ago, at 2238 W. John’s Loop.
The Riverstone West III project will include two three-story apartment buildings, with a total of 40,000 square feet of living space and a single-story, 2,700-square-foot community building.
The community buildings in both projects will include community rooms, laundry facilities, and managers’ of-fices, King says.
They also will have patio space for tenants and children’s outdoor play amenities.
Lake City Development Corp., which is Coeur d’Alene’s ur-ban renewal agency, has agreed to reimburse Whitewater Creek up to $280,000 to develop a 1.4-acre public park as part of the Riverstone West III project, says Tony Berns, LCDC’s executive director.
The park, which eventually will be maintained by the city of Coeur d’Alene, will be on city-owned property on the west edge of the Riverstone West III site, next to the Centennial Trial.
The developer has proposed to include a shelter, a dog park, trail improvements, and a water-conservation demonstration garden at the park, LCDC documents show.
Though the park is a small part of the planned development, LCDC’s financial commitment to the project qualifies as community support, fulfilling a key requirement that makes the Riverstone West III project eligible for low-income housing tax credits through the Idaho Housing and Finance Association, the developer claimed in documents submitted to LCDC.
The affordable housing component for Riverstone West III is vital to proceeding with the larger Riverstone Place project, Whitewater Creek also asserted.
The Riverstone West III project will be targeted toward residents earning 40 percent to 50 percent of the median area income, which equates to annual income of $15,480 to $29,850, depending on family size, LCDC documents show.
Monthly rent for one- to three-bedroom units there will range from $347 to $614, LCDC documents show.
Berns says he can’t speak to the rent schedule for Riverstone Place, because LCDC has no financial involvement in that project.
Whitewater Creek has been involved in numerous multifamily projects in recent years.
The company, acting as the contractor for nonprofit Spokane Housing Ventures, is putting finishing touches on the $20 million Clare View project on the South Hill, which ZBA also designed, King says.
That project includes constructing 61 new senior apartment units in five buildings at 3146 E. 44th, and rehabilitating the nearby 124-unit Clare House Apartments Complex, at 4827 E. Palouse Highway.
Whitewater Creek also recently completed the $10 million, 50-unit Milltown Apartments, a low-income rental housing complex erected in Sandpoint, Idaho, also designed by ZBA.
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