What’s Happening With: the QualMed office-to-apartment conversion project
First living units expected to be occupied in summer
Mike McLeanApril 27th, 2023
Apartment unit pre-leasing will begin soon at The 508 West, a $16 million multifamily construction project at the former QualMed Plaza in the medical district on the lower South Hill, says Nick Brumback, co-president of Spokane real estate development company Brumback Construction Inc.
The office building-to-apartment conversion project at 508 W. Sixth, which is highly visible from downtown, has been underway for about two years.
“The structural rebuild is done, and we’re working on final exterior and roof-envelop items,” Brumback says. “We have about 60 units complete and ready for the power switchover and the tower crane going away.”
The same tower crane was looming over the structure when the Journal last reported on the development in November 2021. The project originally was expected to be completed last summer.
Brumback says the development has been slowed by a number of obstacles resulting from the lingering effects of the COVID-19 pandemic, including supply-chain disruptions and “commodity inflation.”
“We’ve had to battle through a lot with everything that’s gone on in the last two years,” he says.
Brumback says he expects 63 of The 508 West’s planned 117 units will be available in the first stage of marketing, which will be handled through an affiliate, Brumback Real Estate.
“We will have a range of small studios up to two-bedroom units,” he says.
The units to be included in the first leasing phase will be those in the former office building.
Brumback says move-ins could begin in June or July.
The first-phase units range from 375-square-foot studios to nearly 800-square-foot two-bedroom apartments.
Brumback says initial monthly rents may start at around $1,100 to $1,800.
The second phase of leasing will include units in the former garage side of the development, which now is called the West Tower. Brumback says they will be marketed in early to midsummer.
West Tower units will include 325-square-foot studios, nearly 500-square-foot loft studios, and nearly 700-square-foot one-bedroom loft apartments.
Brumback says construction is continuing on the 10th level of the structure, which will include five premium units and a sky lounge for tenants that will overlook the city.
The premium units will range from 550-square-foot, one-bedroom units to 1,200-square-foot, two-bedroom units.
Brumback says he expects the development will be complete in the third quarter.
“We’re targeting August for 100% or substantial completion,” he says. “It’s been slow. We’re almost at the finish line, and we’re excited to get this done.”
Shared amenities at The 508 West will include a lounge, a business center, a fitness center, bike storage, and a pet play area and washing station.
The West 508 also will have a coffee shop on the first floor.
While most of the construction site is currently fenced off, Sixth Avenue Medical Pharmacy, a longtime tenant of the building, remains open and accessible on the ground floor.
Brumback Construction, which is led by Brumback and his father and company co-president Donald “Gib” Brumback, is the contractor on the project, and Steven A. Meek Architects, of Spokane, designed it.
6th Avenue Partners LLC, which is helmed by Nick Brumback and Portland-based real estate broker David Squires, bought the 55,000-square-foot former medical building and attached, 43,000-square-foot garage structure in 2019 for $1.2 million, Spokane County Assessor’s records show.
The structures were built in 1964 and currently have a taxable value of $14.8 million, up from last year’s assessed value of $6.6 million, Assessor’s records show.
The 508 West is Brumback Construction’s first high-rise project. Other Brumback developments include Cedar Crossing, a mixed-use center with 36 apartment units at 6511 N. Cedar Road, and the nearby 39-unit Cedar Flats apartments at 6619 N. Cedar, in the Five Mile area of Spokane.