As the residential development pipeline narrows around Washington's Spokane region, a new multifamily project has infused the city of Liberty Lake with rental units that set a luxury standard.
Dubbed Signal Point Apartment Homes, the 240-unit project comes equipped with a clubhouse, year-round pool and spa and a pet park. The desirable amenities are paired with location: The property makes use of land the MeadowWood Technology Campus once occupied, adding housing to a town already known for its strong schools, small-town charm and proximity to recreational amenities.
The development encompasses a mix of one-, two- and three-bedroom units across 15 low-slung buildings. The average rent hovers around $1,797.
Signal Point could meaningfully influence the local market by drawing renewed investment interest to Liberty Lake, which is one of the reasons why it earned a CoStar Impact Award, as judged by the region's real estate experts.
About the project: Encompassing 240,000 square feet, the 2025-built Signal Point Apartment Homes development at 24085 E. Mission Ave. is owned by the real estate investment firm Fourth Avenue Capital and was developed by Baker Construction and Development. The property manager is Avenue5 Residential.
What the judges said: These are "premier apartments for the growing Liberty Lake area," according to Gene Arger, broker at G. Arger Co. Real Estate.
"This seems like a fantastic project that sets the tone of the Spokane region stepping up into the luxury market. Should be a great project to watch for years to come," added Bryn West, vice president of leasing and operations at Cowles Real Estate.
They made it happen: Chris Olson, principal, and Gwen McCann, project manager, with Olson Projects led the development team. Lucas Holmquist, executive vice president, Spencer Holt, project manager, and Terry Battermann, senior superintendent, with Baker Construction oversaw construction. Corina Stroup, vice president, Sonni Wright, regional manager, and Lauren Moseman with Avenue5 Residential handled property management. Josh McDonald, director of development, and Chris Rossman, asset manager, with Fourth Avenue Capital represented the ownership team.