Seattle-based Spectrum Development Solutions and investment firm Pinnacle Partners have acquired a 5.75-acre site and will develop a 160-unit Class A multifamily project in the University District of Spokane, WA. The development is located within an opportunity zone, providing economic incentives for Spokane and the real estate investment community.

“This is a terrific opportunity for us to deliver our brand of housing to serve students, healthcare workers and young professionals,” said Jhomar Small, associate principal at Spectrum. “Our collaborative partnership with Pinnacle and the City of Spokane has been instrumental in this project’s success so far.”

Due to be completed in 2024, the project will include one-, two- and three-bedroom units and is situated just a short walk from Gonzaga University and various retail shops.

Leavitt Capital’s Marc Mowrer, who brokered the land acquisition, said, “As a long time resident of Spokane, it was really important that we brought in the right partner with the right vision for developing this property.”