Spokane Area Land

This shovel-ready lot offers a unique chance to develop multifamily housing with significant tax advantages. The property comes with a pre-approved 8-year Multi-Family Tax Exemption (MFTE), which begins on January 1st following the recording of the Certificate of Occupancy post-project completion. This exemption applies to the residential improvements, providing substantial savings. The site includes nearly completed four-plex plans, requiring only two minor updates per city requirements. While the MFTE requires a minimum of four units, developers have flexibility in configuration to meet this requirement. There are no income or rent restrictions, allowing for market-rate development. The City of Spokane is actively encouraging such developments and offers guidance to streamline the process. With a growing demand for multifamily housing, this property presents an ideal opportunity for investors to capitalize on Spokane's expanding housing market.