Developer plans apartments new North Central High School
Another North Side project is under considerationNovember 21st, 2019
The city of Spokane has approved plans for an apartment complex just north of downtown, near North Central High School.
Spokane-based Barnham Group plans to develop the 24-unit Wall Street Apartments complex on a vacant lot at 1405 N. Wall, which is two blocks southwest of North Central and one block north of the Value Village on Boone Street.
Nick Barnes, who co-owns and operates Spokane development company Barnham Group LLC with business partner Aaron Cunningham, says the 18,000-square-foot building will have four stories and cost an estimated $3 million to build.
Construction Services Inc., a subsidiary of Barnham Group, is the general contractor. Spokane-based Russell C. Page Architects PS is the project architect.
In August, the city expanded its multifamily tax-exemption zone, a program that offers an eight- to 12-year tax break to developers who rehabilitate or build four or more units of eligible multifamily housing. The goal of expanding the tax-abatement zone is to promote housing development in the urban core as Spokane continues to experience low vacancy rates.
“And quite frankly, the chance to do a project in the (city’s) tax abatement zone was really appealing,” says Barnes.
Barnes says the project calls for “high-end” units to be offered with a monthly rental price range of $950 to $1,500. The price varies depending on what floor residents reside on.
The complex is scheduled to have 20, 687-square-foot units with a single bedroom and bathroom. Four apartments will have two bedrooms and two bathrooms approaching 1,000 square feet. The fourth-floor units will have 14-foot, vaulted ceilings, he says.
“Some of those top-floor units promise to offer a sweeping view of downtown,” Barnes says.
Construction crews are expected to begin breaking ground between the end of November and early December on the estimated one-year project.
Meanwhile, construction is underway on the Hastings Apartments, a 24-unit apartment complex being built on a narrow, undeveloped slice of land at 1001 E. Hastings between Farwell and Hasting north of Spokane.
Colbert-based Boies Construction LLC is the general contractor on the estimated $3.5-million project. When finished, the project will have four buildings with six, two-story units with attached garages.