Spokane Journal of Business

Big housing development planned near Indian Trail

Greenstone Corp. project would be built in phases, have value of $40 million

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Greenstone Corp., a Spokane development company, is planning to develop a 174-home planned-unit development on nearly 96 acres of land between Barnes Road and Shawnee Avenue west of Indian Trail Road, says Greenstone President Jim Frank.

The development, which tentatively is being called Tudor House, would feature upper-end homes priced at between $170,000 and $300,000 and would include bluff-top homes overlooking Riverside State Park to the west, Frank says.

The city of Spokanes hearing examiner approved Greenstones preliminary-plat and planned-unit-development applications last week following a hearing.

Development likely will start next year and will be done in phases over five years, Frank says. Upon completion, the development would have a value of about $40 million, he says.

Development of the project likely would start at the eastern edge of the project property, near Barnes, where the projects main entrance would be located, Frank says. Greenstone Homes, a construction company affiliated with the developer, probably would build most of the homes in the project.

Parts of the project site, such as the steep sides of the bluff, would be left natural to provide open, common spaces, Frank says. A neighborhood park also would be developed on the property, he says.

The development would have a low density of fewer than two homes per acre, Frank says. Most lots would have between 65 and 100 feet of street frontage, he says.

Greenstone, which has developed numerous projects in North Idaho, on the South Hill, and in the Spokane Valley, especially in the Liberty Lake area, wants to establish a presence on Spokanes North Side, Frank says. With the Tudor House project and a proposed 186-home middle-income development just a few blocks northeast of the intersection of Nevada and Francis that also is being reviewed by the city, Greenstone would be able to offer North Side homes across a spectrum of prices, he says.

  • Anita Burke

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