A couple of redevelopment projects along downtown Spokane’s Main Avenue show an encouraging bullishness in the downtown retail and restaurant markets, and a healthy vacancy rate suggests that controversial conversations about converting some public facilities to private uses are worth exploring.
As discussed in detail on the front page, the third-generation owner of the Bennett Block is rehabilitating the historic complex at the northeast corner of Main and Howard Street, with plans to develop a restaurant row at street level, boutique retail space at the skywalk level, and new office space on the third floor.
One block to the east of the Bennett Block, a group of real estate investors has bought the building that the Huppin’s electronics retail store vacated last year and the neighboring, former Dutch’s Musical Instruments building. Developers Chris Batten, Bobby Brett, and John Pariseau have begun renovation work there. One restaurant operator has said it plans to take most of the ground-floor space of the old Dutch’s building, which is practically a stone’s throw from the $135 million high-rise convention hotel that Spokane developer Walt Worthy is developing.
A survey in the Real Estate Report, published last year by the Spokane-Kootenai Real Estate Research Committee, put the retail vacancy rate for the Central Business District at about 8 percent. Downtown Spokane Partnership President Mark Richard said that number is consistent with the vacancy rate for downtown as a whole, but he makes the argument that vacancy is much lower in the retail hub in and around River Park Square. He says popular clothing store chain H&M looked at the city core and couldn’t find a large enough space close enough to the downtown mall, opting then to open its first Spokane-area store in Spokane Valley Mall.
Referring to the lack of large spaces close to River Park Square, Richard says, “They are great problems to have, but they are challenges we have to solve.”
Richard has caught a lot of heat in recent weeks—arguably unfairly— over his comments in an Inlander story about whether Spokane Public Library should consider opportunities to sell its downtown branch building, located just west of River Park Square, to private developers. Talks have also surfaced about the city of Spokane using part of City Hall, just north of River Park Square, for retail space.
We would be slow to support a sale of the library building or a repurposing of City Hall. Both structures are considerable community assets located precisely where they should be, in the heart of the city.
Neither option, however, should be dismissed out of hand. If the library could receive a considerable amount of money while continuing to provide the same level of service at a central location, then the idea should be vetted.
Meantime, the activity that is under way downtown promises to bring more options and business possibilities to an already strong core.