Moving downtown
The market for downtown Spokane living space, particularly condominiums or apartments carved out of renovated historical buildings, seems to be growing.
To meet the demand two local developers are scrambling to get properties on the market.
Rob Brewster, owner of ConoverBond Development, has 12 rental units in the Havermale Park project that should be available at the end of October. “These are all apartments, rather than condos,” Brewster said. “They will fill a niche for those who want to rent space downtown rather than buy.”
The spaces will rent for $350 and up.
Ryan Romaneski, Director of New Market Development for ConoverBond, says the newest spaces are all in the Hale building, which was built in 1905 as a downtown hotel.
The compact studio apartments up to larger “bedroom plus den” rentals, with the same aesthetically pleasing elements as more expensive loft condominiums, will give renters access to the trendy urban lifestyle.
“Some units have large bay windows and the original brick walls, some with old advertising painted on them,” Romaneski said. “We think people will be excited.”
Eight more rental units in the nearby Bickett building should be ready by late November.
Developer Ron Wells is creating upscale urban and lofts spaces in several areas downtown.
“We’ve got four downtown loft condominium projects underway,” Wells said. “And a number of them are pre-sold.”
The Freeman building, located on the corner of Lincoln and Second Avenue, features seven full-floor loft live/work spaces.
The brick building features a painted mural of the Clock Tower at Riverfront Park on the outside South wall.
All loft units have windows on three sides, an option that is not always available with industrial spaces, as well as indoor parking for two cars.
The lower level of the Freeman Building houses Peters and Sons Florists and The Wine Cellar. Only the third floor is unsold.
Wells’ Morgan Loft development on Riverside Avenue is under construction. That project will bring 31 lofts, from 660 square feet to 1,880 square feet, priced at $249,000 to $550,000.