A mixed-use development with apartments, shops, office space and parking is the next big project planned for Kendall Yards.
Greenstone Corp. has had initial meetings with Spokane city officials about future plans for the parcel at 1001 W. Summit Parkway, but hasn’t submitted any applications for building permits. Realistically, it will be at least 24 months before the new apartment are available for rent, said Joe Frank, Greenstone’s president.
“We’re just in the concept phase now,” he said.
Plans call for a below-grade parking structure with about 280 stalls. The parking would be topped with two buildings – a residential building with about 120 apartments and a commercial building with about 60,000 feet of office space. Both would contain retail shops on the ground level.
Demand for apartments remains strong in Kendall Yards, a 78-acre urban neighborhood being developed on an old industrial site north of the Spokane River, Frank said.
The new apartment building will feature one-, two- and three-bedroom units. Smaller units have had the highest demand.
“They’re pretty attractive for young professionals and students,” Frank said.
Before Greenstone builds the office building, the company will look for a tenant to lease at least part of the space, he said.
The new project will fill in a vacant lot west of Monroe Street on a bluff overlooking the Spokane River.
Kendall Yards has two smaller commercial buildings and a grocery store under construction, Frank said.
The grocery store – My Fresh Basket – will be about 28,000 square feet on two levels. No opening date has been announced for the store, he said.