In 2015, the Downtown Spokane Partnership, the Parking and Business Improvement District, and the University District Development Association engaged Applied Development Economics, Inc., to prepare a city-wide residential market analysis and economic report.
The study was complete in November and a digital copy of the assessment is now available to interested developers and investors here.
Highlights of the study include:
- The City is skewing older and younger. Housing trends will cater to both retiree and university student needs.
- The growing young adult student population will drive unique retail, entertainment and dining alternatives for all demographics.
- Local household income growth will bring more shoppers downtown and cement Spokane’s role as the regional retail hub.
- Re-used and re-adapted buildings will be popular; look for mixed-use renovation projects with ground floor shops and upper floor living.
- Expanding partnership between the Washington State University Medical School, local universities with health science programs, area hospitals, and existing Spokane life sciences companies, will be a major economic driver resulting in new jobs. Highly skilled positions will spurr wage growth, improving the overall quality of life for Spokane residents
The DSP and UDDA wish to thank the Washington State Commercial Association of Realtors and the National Association of Realtors for their support.
Questions or feedback on the study on the study are welcome. For further information or to obtain a hard copy, please contact the DSP and UDDA office at 509.456.0580.