Construction is underway on a four-storey, 160-unit multifamily building at Iron Bridge Office Campus within Spokane’s University District. The project’s developer, Spectrum Development Solutions LLC, collaborated with Seattle-based Pinnacle Partners LLC to secure finance for the development.
According to the Seattle-based company, the development’s $25 million construction value estimate may change as the building progresses. The project is designed by Seattle-based Mithun Inc. and Spokane-based ZBA Architecture PS. A contractor will probably be chosen in the following month.
Features and remarks on the 160-unit multifamily building at Iron Bridge Office Campus
There will be a variety of open studios, one-, two-, and three-bedroom apartments on the 160-unit multifamily building at Iron Bridge Office Campus. There will also be parking for cars and bicycles. The property will also have a clubhouse, exercise centre, and half-court for basketball.
According to a preliminary site design, the building will have total square footage of around 102,500. Therefore, there will be 25,000 square feet on each story. It is anticipated that work will start in the spring of 2019 and end in the summer.
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“We’ve been seeking the ideal opportunity in Spokane for almost ten years. We’ve done a lot of workforce housing for the teachers, civil employees, and healthcare professionals who make up the missing middle class. We’ve also built a lot of student housing. So we saw Iron Bridge as a chance to offer our Spectrum brand of housing to students and other young professionals in the market.
Additionally, we discovered that health care partners have a lot of significant synergies when it comes to their need for workforce housing. The location’s economics were greatly improved by the fact that it is both in an opportunity zone and a tax-exempt zone.
