When developer Marshall Chesrown purchased 77 acres of real estate near downtown Spokane in 2004, a vision was born. Kendall Yards would be a mixed-use “urban village,” drawing residents to the heart of the city and boosting business. After several years of groundwork and financing setbacks, new developers have taken over the project.
Plans emerged in 2006 for a major development on the land, purchased during Metropolitan Mortgage & Securities Co.’s bankruptcy auction. The initial proposal for the site north of the Spokane River and west of Monroe Street showed high-end residential units; up to 1 million square feet of office and retail space; high-rise buildings; and Centennial Trail connections.
Developers completed a
costly environmental cleanup and drew up plans to handle a surge in traffic. Residents of West Central and other neighborhoods voiced concerns and support. And in September 2006, the city examiner approved Kendall Yards. The City Council would later OK special tax financing despite prominent objections.
As the economy began to falter in 2008, the project ground to a halt. Chesrown closed the downtown Kendall Yards offices, and the site was used for parking.
In late 2009, home builder Greenstone Corp. bought the property and promoted scaled-back plans that kept the mixed-use philosophy but reduced the number and cost of the housing units. Work on those units began in April 2010.
The development may deliver a full-service grocery store by Thanksgiving 2012. One to three office buildings and more housing also are planned next year. Greenstone is working with city officials to reduce long-term parking on streets in commercial portions of Kendall Yards and to extend the Centennial Trail through the project.
Updated Sept. 29, 2011.
Marshall Chesrown was the original developer of Kendall Yards. He grew up in Spokane, made his fortune selling a Denver automotive empire in 1997, and returned to the Inland Northwest to go into real estate.
Latest updates in this topic
Cleanup due to begin on old riverside railroad site
A developer will begin cleanup on an old railroad maintenance complex in downtown Spokane with funding from the largest ever brownfields cleanup loan from the Environmental Protection Agency. Coeur d’Alene-based …
Park Board votes to support Post Street Bridge market
Spokane Park Board members Thursday threw their support behind a proposal to create a year-round public market on the Post Street Bridge and adjacent park-owned land west of the bridge. …
Chesrown buys Brundage Block building
Developer Marshall Chesrown will run sales and marketing efforts for Kendall Yards — a residential and commercial development planned for 77 acres on the north bank of the Spokane River …
City may give green light to pedestrian plan
Developer Marshall Chesrown envisions the 77 acres of land he owns on the north bank of the Spokane River as an urban village, with people walking back and forth across …
Selling a life of luxury
When Marshall Chesrown bought 650 acres of forested land overlooking Lake Coeur d’Alene back in 1997, a few other developers told him he got taken. Four thousand dollars per acre …
Parkland eyed for development
A developer who wants to build an upscale urban village in Spokane has quietly proposed using a slice of Riverfront Park between the Post and Monroe street bridges for an …
Chesrown closes on Summit property purchase
Developer Marshall Chesrown has closed on the purchase of the 77-acre Summit property north of downtown Spokane and plans to break ground on April 1. He envisions a mixed-use development …
Summit sells for $12.8 million
Marshall Chesrown, the top-dollar developer building the Black Rock community on Lake Coeur d’Alene, has a new venture – this time paying $12.8 million for 77 acres of prime land …