Spokane Valley Council Unanimously Approves Ground Lease for Balfour Property

The Spokane Valley City Council is moving forward with plans to explore retail opportunities on the recently acquired Balfour Property, which was purchased for $790,000 in 2023. The property, intended to enhance park access and provide overflow parking, has been the subject of discussions regarding its future use.

During the August 12 meeting, City Services Administrator Gloria Mintz and broker Bob Spooner presented three options for the property: renovating the existing building at an estimated cost of $3.1 million, constructing a new building for about $4 million, or demolishing the current structure for approximately $150,000. The council previously authorized demolition to prepare the site for future development.

Spooner outlined the potential for a ground lease, which would allow a tenant to develop the property while the city retains ownership. This approach could attract businesses that complement the park, such as restaurants or coffee shops. Council members expressed enthusiasm for this option, emphasizing the flexibility it provides to evaluate proposals and select the best fit for the community.

Councilmember Merkel suggested incorporating the property into the park for recreational use, while other members highlighted the importance of generating revenue from the site. The council reached a unanimous consensus to pursue marketing the property for ground lease opportunities, aiming to enhance the park's appeal and contribute to the local economy.

Public comments during the meeting reflected a mix of support for the development plans and concerns about monopolistic practices in local services. Residents voiced their desire for thoughtful economic development that benefits the community without compromising access or quality of life.

As the council prepares to explore retail options, the future of the Balfour Property remains a focal point for enhancing Spokane Valley's community offerings and economic vitality.