Willamette Valley Bank opens home loan center in downtown Spokane

A Willamette Valley Bank home loan center has opened in downtown Spokane – the financial institution’s first entry into the Eastern Washington market.

The center, at 522 W. Riverside Ave. in the Fidelity Building, will focus on residential lending, but the office expects gradually to roll out commercial loan activity, said Dan Meckel, associate vice president of mortgage development. The leased space is at the corner of Riverside and Howard Street.

Six employees are based there, but that number likely will increase to about 10 workers, Meckel said. Only loan services are offered, so the site doesn’t have deposit or bank branch services.

Two years ago, the bank opened a Coeur d’Alene home loan office, and that operation has grown to 22 workers, Meckel said. He added that the bank expects eventually to open other Spokane-area home loan centers.

“We have an office in Coeur d’Alene that’s very successful, so the natural progression was to move over to the Spokane market,” he said.

Headquartered in Salem, Willamette Valley Bank operates full-service branches in Salem, Keizer, Silverton and Albany. It also operates home loan centers in Portland, Sherwood, Wilsonville, Eugene, Bend, Grants Pass and Medford, Oregon, as well as in Vancouver, Washington, and Priest River and Boise.

Cash & Carry store coming

to Coeur d’Alene

Retailer Cash & Carry Smart Foodservice will build a store in Coeur d’Alene.

The food distributor and food-service warehouse company is set to build a $1.8 million building at 208 E. Appleway Ave.

Portland-based Cash & Carry has 59 locations in western states, including an outlet at 7630 N. Division St. in north Spokane and another store at 211 S. McKinnon Road in Spokane Valley.

The Coeur d’Alene project owner is Cahan Properties Northwest.

STCU-Rocket Bakery open

inside River Park Square

A River Park Square shared retail space opened Tuesday for STCU’s relocated downtown Spokane branch and Rocket Bakery, which jointly occupy two floors.

The Spokane-area businesses are in a newly constructed building section adjacent to the back of Urban Outfitters, at Main Avenue and Wall Street. STCU moved from its former downtown branch in Crescent Court.

Rocket Bakery, which sells coffee drinks, baked goods and food, is owned by Jeff and Julia Postlewait, who have several other coffee shop outlets in the region.

River Park Square is an affiliate of Cowles Co., which publishes The Spokesman-Review.

Vandervert moves offices downtown

Vandervert Construction will move its corporate offices to downtown Spokane after renovating a building formerly occupied by Spokane Home Healthcare.

The Spokane-based commercial construction company will move to 1309 W. First Ave. after the updates are done. Its president and owner, Tim Stulc, said in a news release the company wanted a central location.

Vandervert Construction has been at 608 E. Holland Ave. for more than 20 years. It has listed that property for sale.

New fire station opens

in Coeur d’Alene

The Coeur d’Alene Fire Department opened its newly constructed Station 4 at 6564 N. Atlas Road.

Serving a high-growth area in the northwest part of the city, the station was paid for with impact fees on new construction permits.

A voter-approved general obligation bond provided additional funds to staff and equip the station.

The Beacon reopens

after major fire

The Beacon, a downtown Coeur d’Alene pub, has reopened after a major remodel.

The space at 107 N. Fourth St. was heavily damaged in a fire last summer. The fire also damaged the corporate headquarters of the Pita Pit restaurant chain.

Let us know about new businesses, construction projects, expansions or relocation.