5-story apartments planned for east edge of downtown Coeur d’Alene

A Coeur d’Alene developer plans to start building a five-story, 30-unit apartment building in late spring at the eastern end of that city’s downtown known as the East Sherman Corridor.

Ben Widmyer, president of Widmyer Corp., a development and real estate management company, will build Lake Drive Apartments with two-bedroom, two-bath apartments units in the 900- to 1,000-square-foot range. He also envisions 1,000 to 2,000 square feet of retail on street level.

The property is located on East Coeur d’Alene Lake Drive at the Fernan Lake inlet and near the entrance to Coeur d’Alene Resort Golf Course. The land has remained undeveloped for decades just four blocks south of Sherman Avenue, the city’s main street. Widmyer bought it in 2015.

“In 2006, there was plans to do something down there but the timing was never right,” Widmyer said. “The area  has always been an area where people wanted to see development.”

The East Sherman Corridor is targeted for redevelopment because of its unappealing streetscape with narrower sidewalks, fewer trees and businesses set back from the sidewalk, said Hilary Anderson, community development director in Coeur d’Alene. Anderson said the city plans to finish a master plan by spring.

“The apartment project will help kickstart redevelopment,” Anderson said. “It’s the first major project to come online for East Sherman.”

Widmyer, son of CdA Mayor Steve Widmyer, sees retired people and young adults as tenants.

“We’ve seen an increased demand for older people preferring to rent rather than buy condos,” he said. “This is near recreation trails and close enough to downtown that people can enjoy the amenities.  I can see older couples be a large percentage of the population.”

Miller Stauffer Architects in Coeur d’Alene is the architect. No general contractor has been selected.