North Idaho Real Estate Blog Keeping the “invisible” property owners of Kootenai County in-the-know, as if you were here on a daily basis. 208.769.9464 * dreamteam @ nidt . com * Author: Christina Ethridge, REALTOR(R)

This is the kind of growth and development the area needs:

ALK-Abell? Source Materials Inc., the allergen supplier that includes the former Biopol Laboratories Inc. operation here, says it?s gearing up for a significant increase in demand for the raw materials it produces as its Danish parent rolls out a new allergy medication line.

The company currently is constructing a $32 million, 85,000-square-foot plant in Post Falls into which it plans early next year to consolidate operations currently scattered around the area.

It also expects to boost its current employment here to 50, from 35 now, by the end of next year, and envisions a work force of 80 people by the following year. Currently, it has open positions for scientists, engineers, and technicians.

In the 19 months since it first announced its building project here, the company has twice increased the size of the planned facility, which now is expected to be nearly twice the size of what was originally planned.

Full article here.

Posted under Economics of North Idaho

Growth in North Idaho has never stopped, despite the perception of the market. It’s just slowed down… ‘cept it looks like it’s starting to pick up again. Post Falls Idaho is growing even faster than other North Idaho towns, mainly because Post Falls has more land available for growth. Coeur d’Alene has pretty much used up the land within their city boundaries and since more and more people desire to live in North Idaho, the growth has to go somewhere.

“The preliminary subdivision plan allows for an expansion of commercial development that will incorporate and spread the atmosphere created by the Tullamore development across the street,” the project description states. “The project includes a retail center consisting of multiple building pads/lots in the area closest to Highway 41, and three parcels located to the east of the retail center which will be reserved for future commercial/office/retail development.”

Article here.

Posted under Economics of North Idaho, For Buyers, For Investors, For Sellers

The Kellogg area is considered one of the ‘hot and growing’ areas in the nation - with firmly expected appreciation.

A multi-state investment firm has expressed continued interest in acquiring 220 acres for what company officials said could become a $500 million multi-use development project at the defunct Bunker Hill Mine site in Kellogg.

Attero Inc. last year proposed spending $5.6 million to buy and prepare the land for development, according to Kellogg resident Lee Haynes, vice president of the Attero investment group.

Article here.

We are definitely seeing more and more going on in the area. It’s sometimes overwhelming how fast and furious growth is getting in the area.

Interested in cashing in on the growth opportunities? Connect with us. We can help.

Posted under Economics of North Idaho, For Buyers, For Investors

A completed draft of the county’s Comprehensive Plan was unveiled Thursday and is available for review.
Chapters including housing, transportation and education will guide the next two decades of land-use decisions.

During the next month open houses are scheduled:
..May 20 at Clover Leaf Grange in Post Falls
..May 27 at Athol Elementary
..June 4 in the county administration building.
All meetings will start at 6 p.m.

After 30 days, planners will amend the document based on comments received, then re-post it to the Web site. Finished amendments are expected 45 days later.

More on the plan.

Posted under About the Area

A completed draft of the county’s Comprehensive Plan was unveiled Thursday and is available for review.
Chapters including housing, transportation and education will guide the next two decades of land-use decisions.

During the next month open houses are scheduled:
..May 20 at Clover Leaf Grange in Post Falls
..May 27 at Athol Elementary
..June 4 in the county administration building.
All meetings will start at 6 p.m.

After 30 days, planners will amend the document based on comments received, then re-post it to the Web site. Finished amendments are expected 45 days later.

More on the plan.

Posted under About the Area

The strong real estate market is holding, with leaders in the industry still growing:

The top three Inland Northwest builders of single-family homes—Viking Construct­ion Inc., Sullivan Homes Inc., and Green­stone Corp.—all saw their total building-permit values rise last year, compared with 2006, says an annual list compiled by Cedar City, Utah-based Construction Monitor Inc. The combined value of permits obtained by the area’s top 10 builders last year was $177.8 million, down from $180.7 million the year before.

Another company growing and expanding, creating more jobs in the area:

Magnuson Hotels, a 5-year-old Spokane-based company that markets and provides reservation management services to independent hotels, says its business has soared since it launched a branding campaign last September.

About 100 hotels across the country currently are in various stages of changing their identities to the Magnuson Hotel brand, says Tom Magnuson, CEO of the company, which portrays itself as a low-cost alternative to expensive franchise chains. Another 500 hotels are affiliated with Magnuson Hotels, but aren’t using its brand name, he says.

Manufacturing is increasing slowly but surely:

A Rathdrum Prairie company that makes foam insulation and packaging materials is expanding its manufacturing complex considerably and plans to hire five to six additional workers once the expansion is completed.

The company, FMI-EPS LLC, which formerly was known as Foam Molders Inc., is having a 31,000-square-foot plant built for it just east of its current, 45,000-square-foot facility at 9456 McGuire Road, which is just south of Hayden Avenue and north of the city of Post Falls. The total cost of the project, including a $900,000 piece of equipment that will be installed in the new building, is about $3.4 million, says Gary Bremer, who co-owns FMI-EPS with his wife, Glenda.

Posted under Economics of North Idaho

The strong real estate market is holding, with leaders in the industry still growing:

The top three Inland Northwest builders of single-family homes—Viking Construct­ion Inc., Sullivan Homes Inc., and Green­stone Corp.—all saw their total building-permit values rise last year, compared with 2006, says an annual list compiled by Cedar City, Utah-based Construction Monitor Inc. The combined value of permits obtained by the area’s top 10 builders last year was $177.8 million, down from $180.7 million the year before.

Another company growing and expanding, creating more jobs in the area:

Magnuson Hotels, a 5-year-old Spokane-based company that markets and provides reservation management services to independent hotels, says its business has soared since it launched a branding campaign last September.

About 100 hotels across the country currently are in various stages of changing their identities to the Magnuson Hotel brand, says Tom Magnuson, CEO of the company, which portrays itself as a low-cost alternative to expensive franchise chains. Another 500 hotels are affiliated with Magnuson Hotels, but aren’t using its brand name, he says.

Manufacturing is increasing slowly but surely:

A Rathdrum Prairie company that makes foam insulation and packaging materials is expanding its manufacturing complex considerably and plans to hire five to six additional workers once the expansion is completed.

The company, FMI-EPS LLC, which formerly was known as Foam Molders Inc., is having a 31,000-square-foot plant built for it just east of its current, 45,000-square-foot facility at 9456 McGuire Road, which is just south of Hayden Avenue and north of the city of Post Falls. The total cost of the project, including a $900,000 piece of equipment that will be installed in the new building, is about $3.4 million, says Gary Bremer, who co-owns FMI-EPS with his wife, Glenda.

Posted under Economics of North Idaho

As 2008 President-Elect of the Coeur d’Alene Chapter of the Women’s Council of Realtors, it was my privilege to attend today’s Power Luncheon hosted by Kirsten Donovan at STCU.

Today’s Power Luncheon speaker was Post Falls Mayor Clay Larkin. Clay spoke on the “state of the city” and frankly, 2008 is looking pretty darn awesome for Post Falls.

1. Walmart currently has a 200,000sf store in Post Falls. They will be opening a 2nd Post Falls store of 250,000+sf at The Pointe (near Cabela’s). They will be retaining their current location and either leaving it as a Super Walmart or transitioning it into a Sam’s Club.
2. Cabela’s will be having their “Grand Opening” in February or March. They opened their doors on November 9th with their ’soft opening’. The Post Falls Cabela’s is the chains 24th store. The soft opening in Post Falls was the best soft opening of any of their stores.
3. There is an Electronic Chip Factory being built across from 84 Lumber
4. Lowe’s is expected to “sign on the dotted line” to put in a store at “The Pointe”.
5. Target is in serious negotiations for a Super Target at “The Pointe”.
6. There are 7 motel franchises interested in puttig 200-300 unit hotels at “The Pointe”. 3 will ‘land’.
7. Splash Universe, an indoor waterpark/hotel is seriously looking at putting a hotel at “The Pointe”.
8. There have been 2-3 serious ‘prospects’ in the past 60 days for Post Falls to have it’s own “Convention/Conference” center with seating for 600+.
9. In the new 50-acre shopping center going in at Prairie/Highway 41, it is probable that it will be anchored by a Home Depot and Fred Meyer.
10. Sysco is expanding their facilities from 160,000sf to 400,000sf.
11. Activity will be ‘happening’ on the LP Mill site in 2008
12. At the Hwy 41/Mullen northwest corner (current site of El Rancho Mobile Home Park) there will be a Safeway or an Albertsons and a shopping center similar to the one directly across the street
13. There will be “lots of dirt flying” at the Tullamore project in 2008
14. In the next 120-180 days, there will be 6-7 “Big Box” ground breaking, 2 at “The Pointe” and the remaining along the Hwy 41 corridor.
15. There have been positive/intense conversations from a major east coast furniture manufacturer of hardwood furniture. This company seeks to opening a manufacturing facility and a retail store.

Interesting things to know about Post Falls:

1. It took 105 years for the market value of the city limits to reach $1 billion dollars. It took 5 years for it to reach $2 billion. It’s current value is $2.3 billion.
2. 65% of the residents of Post Falls live between Mullan Avenue on the South Side, Prairie Avenue on the North Side, Highway 41 on the East side and Idaho Street on the West side.
3. Post Falls has gone from 95% residents/5% businesses to 78% residents/22% businesses.
4. After Walmart moved here in 2002, traffic counts rose drastically, increasing business for everyone. No business in the area has gone out of business because of Walmart.
5. Post Falls has instituted the “Smart Code” for growth. This will not change existing areas but only applies to new areas.
6. There are currently 700-800 acres waiting for annexation to Post Falls

Interesting things to know about Kootenai County:

1. The demographics of Kootenai County have historically been estimated by taking population from within 1 hour of Kootenai County. Now, because of growth and industry, the demographics include up to 3 hours away which is a population base of 1.2 million.
2. Idaho’s (not Kootenai County’s) #1 industry is Agriculture (because of Southern Idaho) and #2 is Tourism. It is expected that Tourism will overcome Agriculture in the next 1-2 years.
3. Kootenai County’s unemployment rate is hovering at 2-2.5%. This has created issues for employers. Sonic had to import workers from other stores up to 5 weeks after opening. They couldn’t find enough employees locally to staff the store.

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Posted under About the Area, Economics of North Idaho, For Investors

For all you horse enthusiasts out there - this is a “dream come true” facility.

“207-acre equestrian community at the northwest corner of Wyoming Avenue and Greensferry Road. It will include single- and multi-family homes, two arenas, a race track, equestrian pool, veterinary facility, stables and other horse-friendly amenities plus commercial ventures including an RV park.”

“The project includes 65 acres for 100 single-family houses and 120 multi-family duplexes and townhouses with up to eight units, and residents will have access to all facilities and a “gallop trail” around the project, Yearout said. Barns for homeowners and visitors and a pool round out the project.”

“Visitors and participants in equestrian events are expected to provide much of the cash flow for the project with their use of the facilities, which will include two 160-foot by 500-foot indoor arenas for year-round use, he said.”

“Work on the $50 million community will begin this fall and be done in three phases over four to five years. Phase 1, estimated at about $10 million, includes residential and commercial development including an RV park and arena and is expected to be completed in early 2009. Phase 2 will include more of the equestrian center, additional housing and commercial, with completion by fall 2010 and costing $20 million to $25 million. Phase 3 will include multi-family housing and the race track.”

News article, website

Posted under Economics of North Idaho

It amazes me how big Post Falls is. Standing at 23,000 - that’s the population I remember Coeur d’Alene was just a few years ago! Post Falls was always the ’small neighboring town’. Ha! Boy have things changed.

Post Falls’ population of roughly 23,000 is expected to more than double in the next 15 years. The number of dwelling units is predicted to increase from about 8,500 to 18,500 in 2021.

…the city is still ahead of the curve with planning compared to other growing communities…

Everyone is invited to attend the planning sessions:

We’ll shrink about 18 months of city planning into one week with public involvement.

Input sessions are broken down by groups or themes, including:

• Oct. 25, 10 a.m., elected officials;
• Oct. 25, 1:30 p.m., Rathdrum Prairie;
• Oct. 25, 1:30 p.m., transportation;
• Oct. 25, 3 p.m., commercial/retail;
• Oct. 26, 10 a.m., development (developers, builders, realtors, bankers);
• Oct. 26, 4 p.m., landowners;
• Oct. 27, 10 a.m., public works, police, fire; and
• Oct. 27, 5 p.m., pin-up and community input.

Visual models will be developed as input is received.

Brown said the charrette will build on previous community visioning efforts that emphasized aquifer protection, access to recreational amenities such as the Spokane River, greenspace on the prairie and maintaining property values.

Posted under Economics of North Idaho