Crafting Condominium Construction Solutions

Watching new construction across the region, it is no secret that Spokane County is growing. Growth of course is a positive point for our community as with it comes more well-paying jobs and a growing tax base that contributes to public safety, schools, roads and other functions of local government.

Regional growth has also seen denser development occur as people choose to live closer to school or work, or in a walkable neighborhood near existing services and amenities.  One issue that the Spokane Home Builders Association has identified in the community is the lack of new condominiums as denser multi-family development occurs around the county. Our community’s strong quality of life depends on the availability of a variety of attainable housing options both rental and owner- occupied.

Condominiums represent an attainable home ownership option for entry level buyers, but also those looking to downsize. However, current state law has created barriers to financing and insuring new condominium units, resulting in fewer condominiums being built, or the units that are built coming at a higher price point. Specifically, construction requirements exist in state law that apply only to condominiums but not rental apartments. The existing barriers to home ownership condominiums ultimately favor the development of multi-family as rental units.

The Spokane Home Builders Association and a broad coalition of both private and public partners such as the Spokane Association of Realtors and Greater Spokane Valley Chamber of Commerce have put reform to the state’s Condominium Act as one of their legislative priorities in 2019 to bring more attainable home ownership opportunities to Spokane County. The 2019 legislative session is scheduled for 105 days and begins January 14th.

To learn more about the Spokane Home Builders Association and its mission to promote, protect and educate the housing industry and community visit SHBA.com.