Greenstone Corp., of Liberty Lake, says it has launched a commercial property division to oversee management and development of several big projects here.

Those projects include the Kendall Yards Town Center, the Telido Station shopping center in the River District development at Liberty Lake, and the Meadowwood technology campus, also at Liberty Lake, the company says. Wayne Frost, a vice president at Greenstone, has been named managing director of Greenstone Commercial, it says.

"Greenstone's focus is on creating healthy communities, and successful commercial components are important pieces of vibrant, thriving communities," Frost says. "This will be a natural extension of the work Greenstone has become known for over the past three decades."

Greenstone bought the vacant 250,000-square-foot Agilent Technologies Inc. building at Liberty Lake, along with about 70 acres of land, a couple of months ago and announced plans to develop a multibuilding campus on the site called the Meadowwood Technology Office Park.

The property is located on the north side of Mission Avenue east of Molter Road. Jim Frank, Greenstone's founder and CEO, has said he expects that the technology campus, situated on a site zoned for light-industrial use, eventually will include as much as 700,000 square feet of space and will be home to as many as 4,500 workers.

The former Agilent building and property takes up about 30 acres of the 70-acre site, and Frank said other buildings planned for construction in the park—likely a mix of owner-occupied and leasable structures—might range in size from 5,000 to 100,000 square feet of floor space.

Last November, Greenstone bought the 78-acre Kendall Yards site along the north bank of the Spokane River west of downtown Spokane from River Front Properties LLC, headed by developer Marshall Chesrown.

Greenstone said it plans to develop the property as a mixed-used community, similar to River Front Properties' plans, at a total expected cost of more than $500 million.

It said it expects to develop about 800 residential units in the main residential neighborhood west of Maple Street and about 700,000 square feet of commercial space along with about 200 residential units in a 25-acre commercial district between Maple and Monroe streets.

Kendall Yards Town Center is the name it's using for the commercial portion of that project.

Greenstone has been working for several months on the first phase of townhouses at Kendall Yards and says it now also has launched street infrastructure work to provide access from Monroe to the Town Center commercial sites there. That work includes demolishing a portion of Ide Avenue and an old rock retaining wall that parallels the street, in preparation for construction of a new section of Bridge Avenue that will extend west from Monroe and construction of a new east-west street named Summit Parkway that will be just north of Ide's current alignment.

Telido Station is the 150-acre shopping center that's planned on the north side of Interstate 90 at Liberty Lake, within the big River District mixed-used development for which plans were unveiled four years ago.

Greenstone owns a 50-acre portion of that commercial property and expects to extend a road into the property this year, though no buildings have been constructed there yet, Frost says.