Remodeled, century-old Connell building in downtown sold

A 103-year-old apartment building near Lewis and Clark High School and at the base of hospital hill has sold for nearly $1.3 million.

The Connell Apartment building, 317 W. Fourth Ave., was leased as low-income housing in recent years but has undergone a “full remodel of all the rooms,” according to Nickie White, development officer for GVD Commercial Properties, which sold the building to an unnamed buyer.

According to county property records, GVD purchased the building in 2011 for $260,000 from Spokane Housing Ventures, which leased the building’s 23 units as affordable housing.

In recent years, GVD has made major investments in the west end of downtown. Jerry Dicker, principal owner of the company, purchased the former International Order of Odd Fellows Lodge, Music City Building and a parking lot for $1.5 million. He also owns the Montvale Hotel and has a minority stake in the old New Madison Hotel on the same block.

Through his company, Dicker and his wife, Patty, own the Bing Crosby Theater, Hotel Ruby and the space formerly occupied by Dempsey’s Brass Rail. They also own the former Burgan’s Block, now called Ruby Suites, and the Hotel Ruby 2.

Spokane Housing Ventures purchased the Connell building from Westminister Congregational Church, which is directly adjacent to the building, in 2005 for about $230,000.

Brokers for the recent sale, both of NAI Black, were Jon Jeffreys, who represented the buyer, and Steve Ridenhour, who represented GVD.