Brookstone & Brookside Apartments

13129 East Valleyway Avenue, Spokane Valley, WA 99216
Status: Available
Year Built: 1972/2002
For more information please contact:
jeff@lihtcadvisors.com
# of Units: 82
# of Buildings: 22
# of Stories: 2 & 3
Rentable SF: 13129 East Valleyway Avenue
Lot Size: 6.34 Acres & 1.07 Acres

Highlights:

  • Rental Demand in Spokane has Persisted Due to Long-Time Metro Residents, Transitory College Students, and Military Servicemen and Their Families
  • Located in Spokane County, WA, 18 Miles from the Washington- Idaho Border and 92 Miles from the U.S.- Canadian Border
  • Conveniently Located with Easy Accessibility to Large Retail Areas and Restaurants as well as Close Proximity to Downtown Spokane Via Interstate- 90
  • Excellent AMI Growth in the County with a Massive 11.5% Increase in 2019

Description:

Brookstone & Brookside Apartments is a scattered site affordable housing community with a combined 82-units, located in Spokane, WA. The properties are conveniently located on the city bus line and within minutes from major shopping areas, dining, and I-90 that allows for easy connectivity. Residents enjoy amenities that include an on-site laundry facility, on-site management, 24-hour maintenance, a community room, and a playground. Unit amenities include a patio/balcony, central air & heat, energy efficient appliances, full size washer & dryers, and self-cleaning ovens.

Brookstone is comprised of 64 units, built in 1972, and rehabbed and placed in service in 2002 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 36 units to be rented to income qualifying residents earning no more than 50% of the Area Medium Income (AMI) limits, which are provided by the Washington State Housing Finance Commission. The property is beyond its initial tax credit compliance period. Additionally, the property is a recipient of HUD Section 8 project based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The current contract has an effective beginning date of October 1, 2009 and provides assistance for 27 units. Within the contract, Section 2(a) states that the contract runs for an effective term of 20 years. The remaining unit is unrestricted and reserved for staff.

Brookside is comprised of 18 units, built and placed in service in 2002 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 17 units to be rented to income qualifying residents earning no more than 50% of the Area Medium Income (AMI) limits, which are provided by the Washington State Housing Finance Commission. The property is beyond its initial tax credit compliance period. The remaining unit is unrestricted and set aside for staff.

Spokane is located on the Spokane River west of the Rocky Mountain foothills in eastern Washington, 92 miles south of the Canada- US border, 18 miles from the Washington–Idaho border, and 228 miles east of Seattle along Interstate 90. As of 2018, Spokane has an estimated population of 219,190.

Natural resources have historically been the foundation of Spokane’s economy, with the mining, logging, and agriculture industries providing much of the region’s economic activity. As of 2018, the top five employers in Spokane are Providence Health Care, Kalispel Tribal Economic Authority, URM Stores Inc., Wal-Mart Stores Inc., and Gonzaga University. The largest military facility, the 92d Air Refueling Wing, is stationed at Fairchild Air Force Base near Airway Heights. The leading industries in Spokane are educational services, health care, and social assistance, retail trade, and arts, entertainment, recreation, and accommodation food services.

Spokane is home to many higher education institutions. They include the private universities Gonzaga and Whitworth, and the public Community Colleges of Spokane system (Spokane Community College and Spokane Falls Community College) as well as a variety of technical institutes.

Spokane is close to dozens of lakes and rivers for outdoor sports and recreation, such as, swimming, boating, rafting, and fishing. Nearby mountains provide for skiing, hiking, biking, and sightseeing. Spokane’s professional and semi-professional sports teams include the Spokane Indians in Minor League Baseball and Spokane Chiefs in junior ice hockey. Collegiate sports in Spokane focus on the local teams such as the Gonzaga Bulldogs that compete in the NCAA’s Division I West Coast Conference and the Whitworth Pirates playing in the Division III Northwest Conference as well as other regional teams, including the Washington State Cougars, Eastern Washington Eagles, and the Idaho Vandals.

Gallery

Map & Directions

Join Our Mailing List

6225 N. Meeker Place, Suite 210 Boise, Idaho 83713
PRIVACY POLICY
|
TERMS OF USE
Copyright © 2013-2018  LIHTC Advisors
phonemobilefax