Downtown Spokane Thrives: A City's Successful Revitalization

 

A Story about the Rebirth of an All-American City

With a bold vision to reverse a seriously declining downtown, a local family-owned company redeveloped a 25-year old shopping mall into an urban retail center that became the driving force behind downtown Spokane’s successful $3.4 billion renaissance.  In less than 10 years, this mid-sized Northwest city’s center has become a burgeoning regional hub driving business, social, tourism and economic growth.   READ MORE…

     

 

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2008 Economic Benefit Study  

Executive Summary

Economic Benefit Study

 

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Study Concludes River Park Square Economic Impacts Surpass Projections

A benchmark study assessing the economic impacts of River Park Square was released this month, and the findings affirm the downtown revitalization project made a significant economic impact and served as a catalyst for downtown Spokane’s revival.  

The 2008 study, conducted by Real Estate Economics, the same firm that completed a 1995 forecast, concludes River Park Square’s impacts exceed predictions from 1995.  In 1995, the same firm was commissioned by River Park Square developers to forecast the potential economic impacts of a redeveloped urban shopping center if it was to be built.  The findings of the 2008 study conclude that River Park Square’s accumulative impact to the City of Spokane is $16.2 million from 1999-mid 2007 and its annual economic impact (new tax revenue) is $1.5 million.  

Executive Summary

Economic Benefit Study of River Park Square -- 10 years later