Week in Review

The downtown Spokane YMCA and YWCA plan to sell their choice riverfront properties and use the proceeds to build a shared campus somewhere in the downtown area within the next three years, they said. A Spokane firm, SRM Development LLC, already has offered $4 million for the YWCA property on the north side of the Spokane River. The YMCA, located within Riverfront Park, said it just put out the word that it’s available, likely at a much higher price.

Tuesday

Some North Idaho developers are including language in their sales contracts to deter investors from snapping up properties in subdivisions. Because of North Idaho’s hot real estate market, investors have bought homes and then offered them for rent, while they wait for prices to continue rising.

Wednesday

The Federal Reserve raised a key short-term interest rate a 10th straight time, to 3.5 percent. That federal funds rate influences all other short-term interest rates.

• A commercial real estate company has leased the former Wells Fargo bank building in downtown Spokane and has an option to buy it. WEB Properties will spend about $1 million renovating it.

• Three companies said they had signed leases or expected to do so shortly for space in a retail and residential project to be launched in downtown Spokane, a redevelopment of the former J.C. Penney building.

Thursday

A gay and lesbian business organization said it has identified three possible locations for a gay business district — Browne’s Addition, East Sprague and North Monroe/West Broadway.

• Developer and Davenport Hotel owner Walt Worthy said his planned 18-story Davenport Tower and Residences will include a 12,000-square-foot penthouse suite.

Friday

Asarco LLC, a copper mining company mired in a 40-day strike, filed for bankruptcy protection Wednesday.