Building becoming affordable housing

Another of downtown Spokane’s historic buildings is about to undergo a facelift, but no plans have been hatched for upscale condominiums. This time, the goal is to create 50 affordable housing units and rent them to the work force.

The Spokane Housing Authority has financing in place for a $10.25 million renovation of an historic warehouse building at 161 S. Adams St., said Executive Director Steve Cervantes. The four-story, 42,600-square-foot Borning Building is just south of the railroad viaduct. When complete, the building also will include 21 underground parking spaces, an exercise room, laundry rooms, community room, storage space, and a manager’s unit.

“Our goal is to be able to provide affordable housing, but make it pay for itself,” Cervantes said. “This is a partnership arrangement with … private partners and public partners and we want everyone to be successful and to take pride in this building.”

As increasing numbers of upscale condominium projects have been introduced in both Spokane and Coeur d’Alene, affordable housing experts have raised alarms about pricing working people out of the market. Projects like this one help address the need for work force housing, Cervantes said, explaining that the housing Authority has about 850 units of affordable housing, but would like to offer 1,000.

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The housing authority bought the Borning Building for $1.3 million. Cervantes said he expects renovation to begin within two months, with completion anticipated by the end of 2007.

Cervantes said the building purchase was financed by a Bank of America loan. Other organizations providing financial assistance were: the state’s Housing Trust Fund, the Seattle Federal Home Loan Bank and the Washington State Housing Finance Commission. In addition, the city of Spokane contributed $250,000 worth of federal multi-family housing funds, said Mike Adolfae, the city’s community development director.

The housing authority bought the building in 2004 from doctor and inventor Loel Fenwick, who started the Borning Corp., a builder of furniture for childbirth and newborn care, including the Borning Bed.

The Borning Building is part of the West Downtown Historic Transportation Corridor and, as such, likely would be eligible for historic renovation tax breaks, provided the rehabilitation remains true to the building’s original character, said Aimee Flinn, a preservation specialist with the city’s Historic Preservation Office.

Portions of the building date back to 1905 and were built for H.S. Harman & Co., a furniture wholesaler, according to the historic preservation record. Bekins Moving and Storage Co. occupied the building from 1936 to 1977. The Borning Corp. moved into the building in 1980 and remained until 1989, records show.