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Spokane staff report rising permit activity but larger apartment projects stall awaiting financing
Summary
Spokane permit staff told the Urban Experience Committee that December valuations totaled about $33 million and that while certificate-of-occupancies increased, several large apartment projects remain approved but unissued as developers seek financing; staff aim for February go-live of new permitting software.
Spokane permit staff reported a mixed end to the year at a special Urban Experience Committee meeting, saying December valuations totaled about $33 million and 45 new housing units were issued that month.
"We ended the year okay, but there's some things we're starting to pick back up," the presenter said, adding that many stalled projects are awaiting financing from larger investors. The presenter identified several large projects—"Prose" (about 200 units) and "Peyton"—as examples of apartment communities that remain approved but not issued while developers finalize funding.
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