Stejer plans complex across from Manito
Four-duplex project likely to get under way in June; Condron is the contractorMay 19th, 2010
Stejer Development LLC, of Spokane, expects to begin construction in June near Manito Park on a four-duplex apartment project, called Montrose on the Park.
Stejer Development owns just over a half-acre at 2009 S. Grand, on the southeast corner of 20th Avenue and Grand Boulevard, and is seeking final permit approval from the city of Spokane for the eight-unit complex. Based on building permit application information on file with the city of Spokane, the estimated project value is $662,000.
John Stejer, owner and president of Stejer Development, says construction will take about five months to complete, and the apartment will be marketed for rent late this year. The company has selected Condron Construction Inc., of Spokane, as the contractor, and Spokane-based Nystrom Olson Collins Inc. designed the project.
Each two-bedroom rental unit is expected to have about 900 square feet of living space and its own patio, Stejer says. He adds the living units will be built for rental apartments, although they could be converted into condominiums in the future.
"The market really isn't there for selling condos," Stejer says. "We can sell them in the future as condos. We're choosing to market them as apartments for rent."
Stejer Development bought the property last December from Bellevue-based Foundation Bank, Stejer says. He declines to disclose the purchase price.
In 2006, Spokane developer Rob Brewster Jr. had announced plans for a 10-unit condo project that he called The Montrose on the same site, but he never broke ground on the project. He had proposed in 2005 to build a 27-unit condominium building there, but that plan drew protest from neighbors. Brewster couldn't be reached for comment.
"It's been our goal to develop something that will complement the neighborhood," Stejer says. "This is close to the hospitals; it's great for people who can ride their bikes or walk to work."
He says the project was scaled back from 10 units to eight so it could have onsite parking behind the structures, rather than the underground garage called for in Brewster's proposed development.