Spokane, Wash. --  River Park Square, downtown Spokane’s premier regional retail, dining and entertainment center, celebrates its second birthday today. 

The $114 million redevelopment project opened its doors August 20, 1999, drawing thousands of people to this city’s downtown to visit phase I of the new shopping center.   

Today, with construction complete, River Park Square is a six-level, 500,000 square-foot retail destination featuring anchor tenant Nordstrom, a 20-screen AMC Theatre, 26 local and national specialty retailers, two family-style restaurants, and a one-of-a-kind food service Atrium.

“As we mark this significant milestone, let’s celebrate the remarkable progress we have made in revitalizing our downtown,” said River Park Square developer Betsy Cowles.   “River Park Square has redefined our city and will continue to be a net gain for Spokane and its citizens.” 

The economic impact of River Park Square reaches into the city’s neighborhoods and beyond.  To date, tax and fee revenues generated by the project through second quarter 2001 include $21.6 million to the State of Washington, Spokane County, and the City of Spokane (see enclosed chart).  

Of this amount, $6.2 million has been paid directly to the City, including more than $855,000 in sales taxes to help fund services such as the Spokane Transit Authority and more than $700,000 from property taxes to help support local schools.

 “Tax revenues generated by River Park Square help fund programs that serve the disadvantaged in our community,” said Betsy Wilkerson, social service provider and former president of Women Helping Women Fund.  “This much-needed support helps keep doors open and hopes alive.”

Taxable retail spending in Spokane County, driven in part by River Park Square, also represents a bright spot in the area economy, according to the Spokane Business Barometer 2001 First Quarter.

“I believe the opening of the downtown retail complex is making a difference, and we are seeing a multiplying effect in economic gains from increased spending and employment ,” said local economist Phil Kuharski, as quoted in the Barometer.

In addition, more than 1,100 people from the Spokane community are employed at River Park Square in full-and part-time sales, support, service, and management positions.  

Downtown business investment and construction also have been spurred by the opening of River Park Square.  Since 1999, nearly $350 million in new downtown investment projects have been announced or are underway. 

 This expanded activity serves as a potent, business recruitment tool, according to Mark Turner, president of the Spokane Area Economic Development Council.

“Spokane’s emerging downtown is part of this region’s infrastructure,” said Turner.    “Its energy and many amenities give us a competitive advantage over other communities in attracting and retaining growth.”         

Millions of shoppers and visitors have embraced the redeveloped downtown shopping destination.  Retail sales at River Park Square have increased more than 30 percent during the last two years, totaling nearly $60 million in 2000.  Many of the center’s tenants are reporting sales which meet or exceed projections.  

“I am quite pleased with how Miaz is doing at River Park Square,” said Meghan Brown, owner of Miaz Boutique.  “We are in a great location and see lots of traffic through the store.”

River Park Square and surrounding downtown businesses serve a regional market of more than 1.7 million people.  The new retail center has generated more than $6.2 million in tax and fee revenues for the City of Spokane and services located in the City, has created and retained more than 1100 jobs, and has served as a catalyst for downtown revitalization.  Since River Park Square opened, nearly $350 million in new downtown construction projects have been announced or moved forward.