Kōz Development, LLC and Catalyst Opportunity Funds have secured $33 million in construction financing for a new multifamily residential development in Downtown Spokane, Cushman & Wakefield and Greystone announced this week.
Kōz on West 4th Avenue, which recently broke ground at 307 West 4th Avenue, will be a six-story, approximately 80,700-square-foot building featuring 210 apartments above 108 parking spaces. Plans also called for a coutyard and common laundry areas.
Ground-level view of Kōz on West 4th AveCushman & Wakefield
“Kōz on West 4th’s urban location and amenitized community offers residents a premier live-work-play residential experience. The property also provides one of the most affordable rents in the area for comparable apartment projects,” said Kōz Development founder and chief executive Cathy Reines in a news release. The developer focuses on properties catering to companies making between 60 and 80 percent of the area median income level.
The projected lease-up date for the property is Fall 2026.
Cushman & Wakefield's Chris Moyer, Dave Karson, Paul Roeter, and Chris Meloni represented the borrower in the transaction, while Greystone’s Michael Zampetti, Drew Fletcher, and Jesse Kopecky helped to secure financing.
