The Airway Heights Site is located in an Opportunity Zone, so future developers and investors will receive major tax benefits through this program.
The site is centrally located in the Airway Heights submarket and is only 15 minutes from Downtown Spokane. Located just 2 miles from Northern Quest, 4 miles from Fairchild AFB, and 2.5 miles from Spokane International Airport, the location is ideal for tenants seeking to live close to their employer in a high growth neighborhood.
Zoned C2 Mixed Use, the site could hold up to 93 multifamily units and 14,400 square feet of commercial space. There is a clear demand for the multifamily units and the city is working with the development community to improve the approval and building process.
Given the site is not directly on Route-2, which is a benefit for the multifamily tenants, but not for the commercial tenants, the best potential commercial uses are likely to serve as a multifamily tenant amenity, not just an additional source of income. The commercial income is conservatively underwritten due to the frontage and visibility of the site.
