A study updated in 2000 by the city's consultant, Price Waterhouse Coopers, suggests Spokane needs to increase the 18,000-sf ballroom of its existing convention facilities to 30,000 sf, add 30,660 sf to its 6,840 sf of meeting space—and enlarge its exhibition areas to 125,000 sf.

Cost estimates for Price Waterhouse Coopers' recommendations penciled out at $94.4 million. Kevin Twohig, executive director of the Spokane Public Facilities District (SPFD), tells GlobeSt, "We don't know exactly how much money we will have (for the project). With funding sources available, I think the figure is likely to be closer to $80 million."

Early last month, the Spokane City Council placed the project in the hands of the SPFD and pledged $30 million in sales-tax revenues toward it. The string attached is that construction must be under way by the end of 2002.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.