Days Inn, Taaj restaurant building set to be revamped
Portland developer plans to convert motel into studio apartments at downtown siteAugust 27th, 2020
A Beaverton, Oregon-based real estate holding company has bought the Days Inn motel at 120 W. Third, in downtown Spokane, with the intention of transforming the property into studio apartments.
The company, Fortify Holdings LLC, also has bought the adjacent, former Taaj Indian Cuisine restaurant at 128 W. Third with plans to renovate the restaurant and attract a new operator.
Ziad Elsahili, president of Fortify Holdings, says the company is in the preliminary planning stages of the project.
A contractor, designer, and engineer have not yet been selected, nor has a timeline for remodeling the former motel been established.
On change-of-use application documents filed with the city, Fortify Holdings indicates that it is interested in incentives available for creating affordable housing.
“We are looking at multiple different options for layouts and rent per unit,” Elsahili says.
He adds, “We have met with the city to discuss our plans and look forward to finalizing in the near future.”
On its website, Fortify Holdings says that it works to change “unsafe, neglected properties” into affordable and accessible living spaces.
“Our mission for the Spokane community is to improve existing properties for the long term,” Elsahili says. “After coming across this asset, we instantly saw the potential to turn this into a positive place for downtown Spokane.”
The two-story motel and the restaurant were built starting in 1964. The property has 70 parking spaces.
Fortify acquired the motel and restaurant properties through a trustee’s deed transaction in January, and state real estate tax records don’t show a purchase price. The properties have a combined assessed value of $5.3 million.
According to information on the Fortify Holdings website, the company has more than 2,000 apartment units in 17 multifamily properties.
“Whether for an existing or potential multifamily investment, Fortify Holdings makes decisions that focus on meeting the needs of the present while preparing for sustainability of the property and neighborhood into the future,” the company’s website states.