After decades of strategic property acquisition along NW Blvd in hopes of building a hotel, Ron Ayers has listed the nearly four acres of prime real estate for sale. The project was continuously delayed after a request for local tax dollars came up short. An October 2016 ask of $1,255,000 resulted in a commitment of $680,000 from ignite cda through tax-increment financing. The project appeared to have some inertia years later when suspected arson led to demolition of the dilapidated Garden Motel and left 75% of the property empty. However, delays in the project precluded timely use of the tax-increment financing and the 200,000 square foot Springfield Inn and Suites, which was planned to be LEED certified and solar powered, will ultimately not come to the site regardless of the “Coming Soon in 2019” sign which remains on the property.
The available lots total over 3.92 acres and range from $750k-$1.5M or a combined asking price of $ 4.35 million. One lot houses the Lean Bean coffee shop. The properties could receive an R34 special use permit and yield 136 units.
1820 NW BLVD, Coeur d’Alene, Idaho