Riverstone no longer part of Tech Market plan

COEUR d'ALENE — The partners who are pursuing the development of what they call the Coeur d'Alene Tech Market backed away from plans of establishing the facility at Riverstone.

"It's kind of a bummer," said Charles Buck, who manages the University of Idaho's facilities in Coeur d'Alene, Post Falls and Sandpoint. The university is one of the three partners, along with Innovation Collective and Gizmo-cda.

Buck said Tuesday the 11,000-square-foot space at Riverstone — which Barnes & Noble at one time planned to fill — was the "preferred option" and would have "enabled the highest impact."

The Tech Market, if it's established, would serve as a startup business incubator, classroom and technology development space.

Earlier this month, the partners went before the board of Coeur d'Alene's urban renewal agency, ignite cda, to ask for money to help establish and operate the Tech Market.

Since ignite's board hasn't approved spending money for the Tech Center, "the deal just fell apart," Buck said.

Getting the space at Riverstone was a time-sensitive deal with the landlord, he said.

The partners are now looking for another space.

Tony Berns, ignite cda's executive director, said the idea of a Tech Market is still alive.

"They're re-thinking how it can work and where it can work," Berns said Tuesday. "The idea of having it at Riverstone in that space isn't going to work out."

The Tech Market partners asked ignite cda for $90,000 annually for rent, along with $100,000 for equipment.

Ignite cda's board requested a legal review of using urban renewal dollars on rent in this case. Berns said no legal decision has been made.