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Real Estate & Construction

—Erica Bullock

Building blocked: Construction costs hinder financing

Lenders seek solutions as contractors scale down some projects
June 16, 2022
Erica Bullock
Some lenders here say they're working around challenges to finance commercial construction developments and keep projects moving forward despite soaring prices of construction materials and rising labor costs, which have resulted in some project
Read More
—Erica Bullock

New financing secured for Marjorie Apartments

$4.8M, 25-year refi has lower interest rate
June 2, 2022
Erica Bullock
Gantry Inc. has procured $4.8 million in permanent financing on behalf of Black Enterprises LP for the Marjorie Apartments, in downtown Spokane, says Demetri Koston, principal at the Spokane office of the San Francisco-based full-service mortgage
Read More
—Erica Bullock

Rebranding effort helps Kelly Right's market growth

Brokerage expects to have 1K agents companywide by the close of this year
June 2, 2022
Erica Bullock
Kelly Right International Inc., a Spokane-based real estate company, has reported over $270 million in local residential sales volume two years after rebranding two of its divisions, Kelly Right Real Estate and Modus Mortgage, company representatives say.
Read More

Plastic Surgery Northwest remodel slated

New offices, third floor to be added to structure
June 2, 2022
Karina Elias
A $1.8 million remodel is planned for the Plastic Surgery Northwest medical office building at 530 S. Cowley, on the lower South Hill. Eric Armstrong, of Spokane-based Pondera Architecture PC, says he's designing the project, along with
Read More
—Architects West Inc.

Work begins on Museum of North Idaho's new home

Full J.C. White House project cost nears $10M
June 2, 2022
Virginia Thomas
The Museum of North Idaho expects to begin work soon on its new home at the historic J.C. White House. Britt Thurman, executive director of the Coeur d'Alene-based museum, says the house, was saved in 2019 from
Read More

Several multifamily projects proposed in Spokane

Infill development to rise along Monroe Street
June 2, 2022
Virginia Thomas
In one of a handful of new multifamily residential projects in Spokane, a local developer is expected to break ground this year on a $4 million, 21-unit urban infill project on a site near downtown, about 1 1/2 blocks north of the Spokane River.
Read More

Spokane Valley gains parkland in targeted areas

Three-quarters of acreage desired has been acquired
June 2, 2022
Karina Elias
The city of Spokane Valley has made strategic acquisitions of parkland in three targeted areas, says John Bottelli, director of Spokane Valley Parks, Recreation, and Facilities.
Read More

HMA CPA to move to larger space in downtown Spokane

HMA has outgrown two smaller offices downtown
June 2, 2022
Virginia Thomas
Spokane accounting firm HMA CPA PS plans to move elsewhere downtown later this year. HMA shareholder Kevin Sell says the company has signed a 10-year lease on the 10,000-square-foot 10th floor of the 18-story building at 601 W. First, and plans to move
Read More

What's happening with The District Apartments

Construction starts year later than first announced
June 2, 2022
Mike McLean
Construction has started about a year later than originally planned on the initial phase of The District, a large apartment complex along the Spokane River, near the southeast edge of the University District.
Read More

Mammoth Liberty Lake warehouse project proposed

Dubbed Project Apple, distribution facility would include 487K square feet of industrial space
June 2, 2022
Erica Bullock
A land-use application on file with the city of Liberty Lake proposes the construction of a 487,000-square-foot industrial warehouse, called Project Apple. Phoenix-based real estate development company BH Development Co. filed the
Read More
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