$13.5 million in multifamily projects started in Spokane Valley
Coyote Rock to add up to 180 apartmentsJanuary 17th, 2019
Two apartment projects with a total value of $13.5 million are under construction in Spokane Valley.
One will have up to 180 units and is under construction at 12007 E. Coytote Rock Drive, in the Coyote Rock development on the south side of the Spokane River, says Ryan Lewis, a property manager and broker with Prodigy Property Management.
Coeur d’Alene-based Riverside Place LLC is the project owner. Mort Construction Inc., of Coeur d’Alene, is the contractor on the project, and ML Architect & Associates Inc., of Post Falls, designed it.
Lewis says the complex will be constructed in two phases. Five apartment buildings with a total of up to 72 units will be constructed during the first phase, 24 of which have already been built and are ready to be leased.
Building permits issued by the city of Spokane Valley list the construction value of phase one at $10.3 million.
Construction is projected to be completed by March, he says.
The complex will be an upscale apartment community with access to the Centennial Trail, Lewis says. Living units built during phase one will have 1,000 square feet of living space with two bedrooms. Unit layouts for haven’t been determined yet, he says.
Rents for initial units will start at about $1,200 per month, Lewis says.
Washington state Department of Revenue records show Riverside Place and Mort Construction have shared ownership with Neighborhood Inc., the original developer of Coyote Rock subdivision, which has been under development since 2006. A representative for Mort Construction couldn’t be reached immediately for comment.
Separately, a 24-unit apartment building is under construction at 13506 E. Broadway, which is on the south side of Broadway Avenue, a few blocks west of Evergreen Road, says Steve Goodmansen, architect and associate with Bernardo|Wills Architects PS, of Spokane, which designed the structure.
A building permit issued by the city of Spokane Valley lists the project value at $3.2 million.
Goodmansen says the building will have three floors with a total of 29,200 square feet of living space. It will have six one-bedroom units, 12 two-bedroom units, and six three-bedroom units.
Diamond Rock Construction Inc., of Spokane Valley, is the general contractor. A Diamond Rock representative couldn’t be reached immediately for comment.
Building permit information also shows Diamond Rock is constructing a duplex on the property. The two-story structure will have 2,800 square feet of living space and an attached garage, according to permit information.
Spokane Valley-based 920 Evergreen LLC, which has shared ownership with Diamond Rock, bought the property late last November, Department of Revenue records show.