News

The Falls Project

SPOKANE, Wash. - With stunning views of the river and the city's skyline, it's obvious why the old YWCA building was developer Lawrence Stone's choice for a $60 million highrise project.

“We're very excited about the project. It's a huge investment in the City of Spokane and the momentum that we have in the development there,” Jonathan Mallahan, Director of Neighborhood and Business Services, said.

A rendering of the project, called The Falls, shows the two towers right along the Spokane River's bank. Each tower will be 13 stories tall with 120 apartments, 18 condo units, a 120 unit hotel inside. Plus there will be office and retail space as well as underground parking.

“It continues to just drive activity into our urban core and we see that as more people live there, as more people choose to do business here, there's a demand for this kind of development,” Mallahan said.

The Falls is just the latest projects in a flurry of new development in the downtown area. Construction is ongoing in Kendall Yards, renovation plans are in the works in the old Wonder Bread building, and a potential climbing wall facility is being talked about for the lot across the street from Anthony's. That's on top of the $64 million renovation of Riverfront Park.

“You see a lot of investment that's happening on the heels of the huge public investment and Riverfront Park redevelopment,” Mallahan said. “So it's an exciting time and a lot of great things happening here in Spokane.”

While The Falls is still in the pre-development phase, it's a project the City of Spokane is excited about.

“We're working with a really well experienced and qualified team here on the developer's end and we're excited to help them move that project forward quickly,” Mallahan said.

The project's design must still be reviewed and the developer must apply for a shoreline permit. Neither process has been started yet, but Stone hopes to start construction in 2018 and hopes to have people move in by late 2019 to early 2020.


LOCAL AND REGIONAL NEWS

THIS WEEK'S CIRCULARS