SPOKANE, Wash. (AP) - Land owned by Spokane’s Gonzaga University on the Seattle waterfront will be developed into a 17-story high rise with more than 250 apartments.
The property was a gift to the university from Spokane philanthropist Myrtle Woldson, and sits along the city’s Alaskan Way Viaduct, which will be permanently closed this week.
The Spokesman-Review says construction will begin in 2020 and be complete in 2022.
While Gonzaga will retain ownership of the underlying property, it has entered into a long-term lease with Chicago-based AMLI Residential, which develops apartment buildings nationwide. The income will grow Gonzaga’s endowment.
Woldson, who died in 2014, gifted the university three waterfront Seattle properties worth an estimated $20 million, which she purchased in 1994.
She was the daughter of Martin Woldson, who owned the Northern Pacific Railway.
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Information from: The Spokesman-Review, http://www.spokesman.com
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