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Friday, December 16, 2011

Jensen Byrd Building sold to Campus Advantage

A Spokane landmark owned by Washington State University,The Jensen Byrd Building in Spokane's University District has been sold to Campus Advantage a Austin,Tx. based firm that manages student housing units near universities and colleges thru-out the nation.Currently Campus Advantage has properties in 21 states.The project the plan for the site will be student housing with some ground floor retail space,the project is 125 units with 425 beds and shared bathrooms and common spaces similar to dorms.Campus Advantage purchased the Jensen-Byrd from Washington State University for 2.85 Million Dollars which falls with-in fair market value for the property.Now for the the bad news,The building which was built in 1909 will be torn down and re-placed with a new structure to be built beginning in the summer of 2012 and ready for occupancy in the fall of 2013,the new building to replace the Jensen-Byrd will be a 5 story stucture.While the project is welcome in terms of jobs and new housing in Downtown Spokane it is sad a landmark like the Jensen-Byrd could not be saved.Washington State University had attempted to sell the building to Spokane Developer Ron Wells some time back but that deal fell thru in the end.