COEUR d’ALENE — The city’s economic development company is selling residential lots in one of Coeur d’Alene’s oldest neighborhoods to raise money to support its ongoing projects.
The lots that are being sold by ignite cda in the Fort Grounds neighborhood range in price from $198,000 to $220,000 and they vary in size from .12 to .18 acres.
Tony Berns, executive director of ignite cda, said the sale is meant to make the properties, formerly a row of rundown structures in what has become the Lake District, useable.
“The intent of the property sale is to place property back on the tax rolls,” Berns said. “(The sale) will create additional residential living opportunities in a very desirable part of town.”
Money generated from the sale of the 10 lots on the west side of Memorial Field along North Park Drive will help fund ignite cda projects in the agency’s Lake District, Berns said.
The Lake District is the urban renewal district that includes the city’s Four Corners Project, which encompasses the carousel and the recently refurbished Memorial Field.
Ignite cda secured the 1.4 acre swath in October through a land trade with the city of Coeur d’Alene. Zoning on the property was changed to accommodate 10 single family homes to conform with the rest of the neighborhood, according to the city.
“It provides better uniformity and project flexibility,” said Sam Taylor, deputy city administrator.
The city traded the land for an adjacent triangular parcel that will be developed into park space.
The 10 building sites will be sold to the public through a sealed bid process. All bids must be submitted by 3 p.m. Feb. 21 to ignite cda, and the bids will be opened the same day. Packets are available on ignite cda’s website.