Downtown Days Inn building to be renovated
Company plans to convert motel into apartment unitsDecember 3rd, 2020
The former Days Inn motel in downtown Spokane has been purchased by an Oregon-based development team that plans to convert its guest rooms into apartments, according to planning documents on file with the city of Spokane.
The 15,400-square-foot property, located at 120 W. Third, was purchased for $3.7 million in November by Beaverton, Oregon-based STK Imperial LLC, 4RT Imperial LLC, and LPRP Imperial LLC, according to Spokane County Assessor’s Office records.
STK Imperial is governed by Sean Keys, founder of Beaverton-based Metropolitan Land Group, a development company that converts old buildings into market-rate apartments, as well as handling some new construction.
4RT Imperial and LPRP Imperial are governed by Matthew Semansky, who is the managing agent of the Rogers Family Office LLC and the Rogers Family Foundation LLC, both of which manage the assets of T. Gary Rogers, the former CEO of Dreyer’s Grand Ice Cream. Rogers is also a former chairman of both the San Francisco Federal Bank and Levi Strauss & Co.
Semansky is listed as governing agent of several investment companies involved in property purchases with Keys.
Taylor Gibbons and Tony Yousif, both of SVN Cornerstone, represented the seller in the sale of the property.
Metropolitan Land Group sister company Fortify Holdings is listed on the predevelopment application as the project applicant.
A representative of Fortify wasn’t available immediately for comment.
Predevelopment application notes state the project is expected to cost $880,000. No contractor or architect is listed on the documents.
Documents also list the Econo Lodge, at 1503 S. Rustle, just off Sunset Boulevard, as a property Fortify Holdings intends to convert to multifamily units. That project is valued at $1.32 million.
This isn’t the company’s first foray into the Spokane area. Fortify also developed the GoGo West and GoGo Heights apartments, at 2808 S. Assembly Road and 7027 N. Colton, respectively.
According to the company website, Fortify has developed 17 properties across Washington and Oregon.
All properties associated with both Fortify and Metropolitan Land Group are managed by Seattle-based real estate management company Avenue5 LLC.