SPOKANE COMMERCIAL REAL ESTATE








SPOKANE AND SPOKANE COUNTY IS GROWING. SPOKANE COMMERCIAL REAL ESTATE IN ALL AREAS OF SPOKANE COUNTY IS GROWING. APARTMENTS, SHOPPING CENTERS, MANUFACTURING, AEROSPACE, MEDICAL OFFICE, OFFICE, RETAIL, INDUSTRIAL, MOBILE HOMES, HOTELS, MULTIFAMILY DEVELOPERS AND BUSINESSES ARE MOVING TO SPOKANE. A PERFECT EXAMPLE IS THE NEW AMAZON FULFILLMENT CENTER IN AIRWAY HEIGHTS, WA AND THE CONTINUED COMMERCIAL REAL ESTATE AND HOUSING DEVELOPMENT IN LIBERTY LAKE, WA AND MULTIFAMILY APARTMENT BUILDING CONSTRUCTION IN CHENEY, WA.


Email from Spokane's Mayor Condon to the CEO of NAI Black Commercial Real Estate About Investing in Spokane.


Subject: Investing in Spokane!


Dear Dave, As we start a new year, I want to extend my personal invitation to look at Spokane, WA with excitement! In 2017, my Administration and the Spokane City Council came together in a joint strategic plan, investing $52MM in Infrastructure, Safety, Urban Experience and Sustainability. Our goals are to increase Median Household Income, increase property values, increase wages, increase population, and increase social capital. I am proud to say we are making significant progress toward our ambitious goals.


Nationwide, mid-size cities have seen significant attention, investment and growth over the past 10 years, and Spokane is part of this trend. With 11 census tracts in federally designated Opportunity Zones, Spokane is poised to capitalize on continued growth for the next 10 years. Designated Public Development Authorities (PDA’s) have the City support and strategic plans in-place to leverage investment.


In November 2018, the citizens passed a $555MM bond to rebuild three middle schools and to build three new middle schools throughout the City of Spokane through 2025. Additionally, the citizens have approved a $77MM bond to update or build seven new 21st century libraries. These forward-thinking investments in our community continue to make Spokane safer, smarter, and healthier.


We also have a number of great announcements on jobs coming in 2019-21. Amazon is under construction on a 2MM square foot fulfillment center that will be employing nearly 2,000 people, and Fairchild Air Force Base is bringing in a new squadron of approximately 300 Airmen and another 500 family members. Eastern Washington University announced they would be adding to their business school with engineering technology courses held at their downtown Spokane campus, bringing in approximately 1,000 new students. Finally, Washington State University’s Elson Floyd School of Medicine has 400 medical professional students along with their families living and working in the community.


With this significant population growth, we are feeling the need for investments in housing. Over the past five years, the City of Spokane has seen a migration of over 9,000 new citizens to the City and nearly 25,000 to the County however, new housing permits have averaged 450 units annually. Now more than ever, we need developers to continue to build residential and commercial projects through the community.


I appreciate your ongoing partnership and support of the Spokane community, and thank you for your civic engagement. Working together, we will continue to build Spokane as the City of Choice.


Sincerely,


David A. Condon Mayor