Ridpath Club Apartments nearly at capacity
SPOKANE, Wash. — The owners of the Ridpath Club Apartments said they hope to be at full occupancy within the next few weeks.
The historic hotel sat vacant for almost a decade, until the the Spokane City Council approved a nearly $2 million line of credit to revamp the old building.
One of the building’s owners, Paul Mann, said the complex is at 85 percent capacity, with around 180 residents. There are 206 apartments between the tower and annex, and Mann hopes to have a restaurant move into the ground floor of the space.
Many of the units are “microapartments,” which are designed and priced for young professionals who make less than $30,000 per year. Those who qualify for the “affordable” rate category can lease a micro unit or studio apartment for around $700 a month.
Mann said he guesses the Ridpath has offers the most affordable housing in the downtown core. He also noted that the building in shambles on Sprague and Stevens is not owned by them.
One of the Ridpath developers, Ron Wells, is no longer a co-owner. Wells was sentenced to one year of home detention and a $60,000 fine for his role in a massive insurance fraud ring.
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