Local News

Coeur d'Alene looks to invest in waterfront property

COEUR D'ALENE, Idaho - The City of Coeur d'Alene wants to invest millions of dollars in waterfront property.

The area is on the Spokane River, just south of Seltice Way, between Atlas Road and John Loop in Riverstone.

The City Council met Tuesday on the possible purchase.

The city hopes that the area, where an old lumber mill used to be, could just be the hot place to cool down on a summer day.

Not far from the Riverstone neighborhood, Coeur d'Alene hopes to give its citizens something to look forward to.

“We've heard a lot from our community about the value of waterfront access, particularly along the Spokane River, where there's not much left that's public,” said Sam Taylor, Deputy City Administrator.

The city is now looking to spend nearly 8 million dollars on the 47-acre piece of land.

The city council will vote Tuesday night on how to approve the costs.

But the city has put safeguards in place.

For four months, Coeur d'Alene can decide if the property is worth it, and back out without losing any funds.

What will be included in the property is still in the works, but not far from everyone's mind is a new beach.

And with Riverstone shops and neighbors not far away, the city hopes it can turn a profit on others looking to invest in the area as well.

It plans to rent portions of the land it won't be using.

The city says through this whole process, it just wants its neighbors to get involved.

“We really want to have a community conversation and make sure that everyone is aware of what we're doing and why we're doing it and how we're doing it,” said Taylor.

If the city buys the property, it will have until October to decide if it will move forward with the project.