The initial phase of the Millworx development, which consists of 121 living units and commercial spaces, is coming to fruition at the former Idaho Veneer Co. mill site in Post Falls.
The development, initially valued at $20.5 million, is located along East Fourth Avenue, south of Interstate 90 and a block north of the Idaho Centennial Trail. Dubbed Millworx, the development is being constructed by longtime Spokane developer A&A Construction Inc., and Wolfe Architectural Group PS, also of Spokane, is designing it, says Robert Jacobs, Realtor with Coldwell Banker Schneidmiller Realty.
Davis says about half of the 50-acre property is currently under development, and the rest is slated for development over the next three to five years.
The development will have a total of 61 townhomes and 60 multifamily apartment units in its first phase. Millworx will have three models of townhomes.
The townhomes will be offered for sale in April with prices ranging from $450,000 to $800,000, says Jacobs.
The apartment units will be in two buildings that each will have 4,300 square feet of commercial space available for lease. Danny Davis, Realtor with Coldwell Banker Schneidmiller Realty, says he has signed one commercial tenant so far, a boutique gym that will open in May.
A previously planned restaurant and taphouse has been shelved due to rising costs, he says.
Davis says a hotel is planned on the north side of Fourth Avenue near the Millworx site. A&A construction has submitted a special-use permit application with the city of Post Falls for a five-story, 154-room, dual-brand hotel.