July 13, 2020
Emerald Initiative, an independently owned affiliate of McKinstry, has entered into an agreement with Avista Development to buy a 66,000-square-foot parcel that is part of the South Landing development in Spokane’s University District. The sale is expected to close this summer and terms of the deal were not disclosed.
Development options for the site at 501/521 Sprague Ave. are still being explored. Avista Development, a non-utility subsidiary of Avista Corp., will remain as an investor in the site, and a partner in the eco-district.
McKinstry/Emerald Initiative’s Dean Allen says, “We are excited for the opportunity to be a part of the growth and innovation happening in Spokane and the University District. It’s exciting to see the vision of building the five smartest blocks in the world come to life and to be a part of this vibrant community.”
The South Landing development is anchored by the 159,000-square-foot Catalyst building and the 40,000-square-foot Scott Morris Center for Energy Innovation.
For comments, questions or concerns, please contact Dennis Kaiser