Two Spokane developers have received the final go-ahead for the
second part of WaterCrest, a 37-lot, 305-acre residential development
south of Newman Lake.
Earlier this month, Spokane County found that the second part
of the development proposed by partners Mark Baier and Gavin Swenson
satisfied the requirements of the State Environmental Policy Act
and could proceed.
The developers have begun selling 24 parcels of roughly 10 acres
apiece that comprise the latter half of the project. They had
begun marketing 13 five-acre parcels earlier.
All of the parcels are priced at between $65,000 and $75,000 each.
Baier says he and Swenson already have signed earnestmoney agreements
for sales of four of the
10-acre lots. Seven of the 13 lots offered for sale in the first
phase of the project have been sold, and homes have been built
on two of those lots, Baier says.
WaterCrest is located southwest of the West Newman Lake Road-Starr
Road intersection. The property isn't lakefront or lake-view land,
but a view of Newman Lake is available from some lots on the northern
edge of the development. Roads are in place at WaterCrest and
will be surfaced this summer, Swenson says.
Last March, Baier and Swenson bought the land for $1 million from
Trumark Industries Inc., a Spokane-based wood products company
owned by Jack Brace, both Swenson and Brace say.
This is the first major residential development project taken
on by the two men, Swenson says. They are handling the land sales
Baier and Swenson also own commercial land at the northwest corner
of Nevada Street and Francis Avenue, where they operate a Spray-N-Save
Car Wash and lease out eight mini-storage units and space for
an espresso shop.