The rural town of Deer Park, roughly 22 miles north of downtown Spokane, is attracting massive growth as over 700 residential units valued at more than $200 million are planned or under construction in and near the community of 4,200 people.
Travis Hanso
Prominent manufacturers in the Spokane area are expanding either through construction at new locations, acquiring existing buildings, or conducting on-site renovations.
All told, the projects at Knife River Corp., MacKay Manufacturing Inc., McKinstry Co.
Marshall Chesrown, the former prominent Coeur d'Alene-based developer whose ambitious real estate business collapsed during the Great Recession, has returned closer to his roots with a publicly traded company that buys and sells used vehicles.
Spokane County's assessed property values for new construction this year are $300 million higher than in 2021, fueled by climbing construction-related costs for materials and labor, says Spokane County Assessor Tom Konis.
Business for title insurance companies is down this year, caused by declining numbers of purchase and refinance transactions, representatives of title companies here say.
The Granite Pointe apartment complex in Spokane Valley has been purchased for $145 million, according to a release from the Bellevue, Washington office of Berkadia, a New York-based financial group that serves the commercial real estate industry.
Passages Family Support, a nonprofit, outpatient mental health center, has purchased Sunset Pointe Business Park building for $10.1 million from Arger Sunset LLC, says Gene Arger, of Arger Co. Real Estate Inc.
Passages Family Support had been a tenant at
Northwest Specialty Hospital has sold its buildings and property to a Milwaukee-based investment management company for $67.5 million, becoming a tenant in the 186,000-square-foot facility the specialty hospital formerly owned.
Developers behind the long-envisioned but chronically stalled Beacon Hill planned unit development say the first phase of housing construction plans should be back on track in coming weeks, when the pumps that will supply water to the site are installed.
Construction is expected to begin next month on a 42-building complex dubbed Daugharty Commerce Park, which will have 136,000 square feet of commercial space available for lease in Hayden, says Paul Daugharty, member of Daugharty Investments LLC, the ent