Condo project moves ahead

If the Spokane City Council approves, developer Ron Wells will begin construction next year on a seven-story, mixed-use condominium tower on the west end of downtown.

A selection committee made up of city staff has recommended that the City Council accept Wells’ bid for the property that now houses Fire Station No. 4 at 8 S. Cedar. The council is scheduled to consider the matter at its meeting on Monday.

With a $500,005 offer, Wells was the high bidder for the 15,500-square-foot property. Other bidders were businessman Chuck Little, who owns the automotive shop next door, and developers Tom Power and Jim Frank. The property was appraised at $480,000, said Dave Mandyke, the city’s deputy director of public works.

Mandyke said the city was pleased with all three proposals, which suggested similar uses.

“They’re right on target for what the city would like to see,” Mandyke said of the proposals. “At the same time they meet our request, so this is nice.”

Wells’ proposal won in the end because of price, meeting the city’s criteria for a mixed-use project, and the developer’s demonstrated “ability to bring in a project,” Mandyke said. Wells’ resume of building and renovating housing, retail and office projects includes most of the apartment buildings near the fire station, as well as Steam Plant Square, Freeman Center, and the Morgan Building.

Wells’ proposal calls for first-floor retail and office space, along with parking. The second floor would be parking only. The upper five floors would house 41 condominiums, ranging in size from 770 to 1,820 square feet. Wells said the condos would be sold for $169,000 to $399,000.

“I have a list of over 100 people who say they want to live downtown,” Wells said. “The last count is 140.”

A study of downtown’s residential market potential showed a demand for 300 housing units per year for the next few years. The 11 condominiums in the Blue Chip Loft project nearby sold out before construction began.

Construction on Wells’ $8.5 million project would begin in September with demolition and site work commencing in July. Wells expects the project to be ready for the first occupants by July 2006. He hasn’t settled on a name yet but is thinking of calling it No. 10 Adams.

“We don’t want fire in the name,” Wells said with a laugh. “We’re very excited about the neighborhood and the project. I really don’t think there’s a better site available for condos.”

Almost 3,000 square feet of commercial space on the first floor also would be sold, not leased, said Wells, who envisions four to five storefronts along Adams and First. The entry and exit to the 55-space parking garage would be on Sprague. Two parking spaces would be available for each of the larger residential condominiums with one apiece for the smaller ones, Wells said.

Little, who bid $495,000, proposed six floors of condominiums above street-level office or retail space. He proposed 50-75 units ranging in size from 700 to 3,000 square feet, selling for $150,000 to $900,000, Mandyke said. Parking would have been underground.

Power and Frank, who bid $447,000, proposed three levels of condominiums ranging in size from 650 to 1,200 square feet, Mandyke said. Parking would have been both above and below ground and the street level, again, would have offered some retail and office space.

Proceeds from the sale of the property will be used to offset the $2.5 million the city is spending to build a new fire station a few blocks to the west. City Fire Chief Bobby Williams told The Spokesman-Review in September that the new station is needed because the old one, built in 1964, is too small.