Three-story building planned in Sandpoint

SANDPOINT – Panhandle State Bank will begin construction in July on a three-story atrium building in downtown Sandpoint.

The 90,000-square-foot structure will house the bank’s downtown branch, other office tenants, a deli and corporate headquarters for Panhandle’s parent company – Intermountain Community Bancorp. The brick, stone and wood financial center was designed by architect Gordon Longwell of Hayden Lake. The $13 million to $14 million building will include an atrium with skylights, live pine trees and a water feature. The targeted opening date is July 2007.

The financial center will be built on Church Street and Fifth Avenue, where demolition will begin this month on a former IGA grocery store and Cinema Four West structure.

Nearly 200 parking spaces are required for the financial center. The bank has room for 125 parking spaces on the site and a nearby lot, said Jim Burnett, senior project manager. Bank officials will continue to look for additional parking, he said. If parking isn’t available, the bank has the option of paying the city of Sandpoint $6,500 for each space it can’t provide, with the money going into a city fund to develop parking elsewhere, said Sandpoint Mayor Ray Miller.

Last year, the bank unveiled plans for a four-story building, which was reduced to comply with the city’s 60-foot height restriction, Burnett said.