High-rise on the horizon

COEUR d'ALENE — A new high-rise could be added to the downtown Coeur d'Alene skyline by this time next year.

Plans for Park Place, a nearly $8 million, six-floor condominium complex, were introduced Wednesday afternoon during ignite cda's monthly meeting in the Coeur d'Alene Public Library. The Park Place project was presented to the board by Ginno Construction Company CEO Kris Pereira, who would serve as part of the development team and contractor. The purpose of the presentation was to request the urban renewal agency's assistance in the project.

"We’re anxious to get started," he said. "We’ve got the property, we’re doing our due dilgence now. We’re hoping to go to design within the next three to four weeks, hope to break ground sometime in July or early August, construct through the winter and have this completed in the spring of 2017."

Pereira fielded questions from ignite cda's commissioners, including inquiries about funding, realignment, elevation and other work that would need to be done to erect the building next to McEuen Terrace on the property of 727 E. Front Ave.

"We’re assuming that we have to realign Front Street and redo the sidewalks and add some landscape areas," Pereira said, explaining realignment includes redoing curbs to make room for the driveway to the proposed building's parking garage.

"Also, irrigation and lighting," he said. "We’re going to add a couple streetlights in that area."

Pereira said each floor would have two units, with prices varying from about $400,000 to $800,000 for penthouse units.

"The big question would be if urban renewal dollars weren’t available, would you still move forward with the project?" Mayor Steve Widmyer asked Pereira, to which Pereira replied with a confident, "Yes."

Commissioner Brad Jordan said whether or not ignite cda decides to help fund and partner in the project, he wishes the best for Pereira as plans move forward.

"It’s nice to have some more addition to the downtown core," Jordan said. "I think another multi-story building adds to the critical mass of the downtown."

"It’s my understanding that this needs to be done before we get a permit, this process," Pereira said. "We’re just trying to be proactive here and bring it to the committee."

The Park Place Project will again be discussed at ignite cda's April meeting, where commissioners will vote on whether they will support the project. The public will also be able to comment at the meeting.

"We think it’ll be a nice transition between what’s there and the residential neighborhood," Pereira said.