Spokane developer Brian Main is heading two planned residential developments herea 55-duplex project in Airway Heights and an 80-home development in Spokane Valleythat together are expected to have a combined value of $36.5 million once theyre completed.
Main is the managing member of Russell Heights LLC, which developed the lots for the 55 duplexes planned in Airway Heights and has sold those lots to builders.
He also is sole owner of South Terrace of Spokane LLC, which has submitted a preliminary plat application with the city of Spokane Valley to develop the 80 single-family home lots there.
The Airway Heights development is located on 12 acres east of Russell Street, between where 10th and Chandler avenues would be if they were extended east of Russell. That project is expected to have a completed value of $16.5 million.
The Spokane Valley project, located on 14 acres roughly between 10th and 14th avenues, west of Carnahan Road, would have an estimated value of about $20 million, Main says.
The lots in the Airway Heights development have been sold to two builders with an arrangement that, once built, will see all of the 110 living units they build there sold to two private investors from Santa Rosa, Calif., who will rent them out, he says. The average two-unit duplex will have a value of about $300,000.
Construction of units in that development is well under way, while infrastructure work on the Spokane Valley project likely will start in four to six months, with home construction there expected to begin a year from now, Main says.
Main plans to sell those lots to home builders. I would guess that home prices in the Spokane Valley project will range from about $200,000 to the high $200,000s, he says.
In Airway Heights, the duplexes are being built by Parker Construction Co. and Steelhead Properties LLC, both of Spokane, Main says.
He says the 12-duplex first phase has been completed, and work on the 16-duplex second phase is under way. The final 27 duplex buildings will be completed later this year, he says.
Each of the 110 living units there will range in size from 1,200 square feet to 1,400 square feet of floor space, and will have three bedrooms and two bathrooms, says Main.
Partners in Russell Heights LLC are Main, Greg Jeffreys, Eric Wolf, and Mike Shuler, all of Spokane, and Bob Anderson, of Anaheim, Calif.
That duplex project is located just south of two additional Main-related projects, a 224-unit apartment complex called Kims Court and an 18-unit condominium project, both scheduled to begin construction soon, says Main.
A contractor for those projects, both owned by Kims Court LLC, hasnt been named yet, he says. Kims Court LLC is owned by Main, his wife, Kim, Jeffreys, and his wife, Kim.
The estimated value of those projects when completed is $15 million, says Main.
In Spokane Valley, Main has submitted a preliminary-plat application and an environmental checklist for the project west of Carnahan which will be called South Terrace. The project has already received a grading permit, says Mike Connelly, Spokane Valley city attorney.
With the storm water, flood water, and steepness issues, that site presents a lot of difficult challenges. But if we go through the hoops and make sure everything is done right, it will work, Connelly says.
He says part of the property is within a designated flood plain, and that Spokane Valley will work with the Federal Emergency Management Agency (FEMA) to comply with its guidelines to prevent floods.
Connelly says the property currently includes steep terrain, substantial fill material relocated from other sites, and a pond.
Main says lot sizes in South Terrace would average about 6,000 square feet of space.
Contact Rocky Wilson at (509) 344-1264 or via e-mail at rockyw@spokanejournal.com.