A recent article in the Spokesman Review suggest that recession or not, Coeur d'Alene should survive the economic slowdown without too many bruises, according to a study based on how well communities have weathered past downturns.

And the city will do it without any of the three elements – universities, state government or regional health-care centers – that typically prop up local economies when the nation as a whole is struggling.

Business consultant Mark Hovind identified 27 "recession-proof" places from U.S. Bureau of Labor Statistics data on job expansion and work force growth.

All the cities added jobs faster than potential new employees joined the work force during the 1990, 2001 and 2007 recessions, if those years indeed were recessions.

Coeur d'Alene was the only such community in Idaho, Billings the only in Montana, and Bend the only in Oregon.

In Washington, Olympia, Bellingham and the Tri-Cities met Lovind's criteria.
Jonathan Coe, president of the Coeur d'Alene Chamber of Commerce, attributed the city's health during hard times to the diversity of businesses, its attraction as a tourist destination, and its status as a refuge for the wealthy, who are less vulnerable to recessions.

But characterizing Coeur d'Alene as invulnerable to business cycles might be going a little too far, Coe said.

"Recession-proof is an awfully ambitious term," he said. "It makes me a little uneasy."

Each of Hovind's 27 communities has an economy built around some industry, or mix of industries, that "don't follow the business cycle pattern," said Matt Martin, an economist with the Federal Reserve Bank's Charlotte office.
In Olympia, the cash cow is state government.

At the southernmost tip of Puget Sound, the population of this smallish city of 44,000 swells during the legislative session, when lawmakers, lobbyists and special interest groups swarm downtown coffee shops and eateries. Olympia is home not only to the Capitol and the bustle of politics that surrounds it, but also to two regional hospitals, Evergreen State College and a lively arts community.

In addition to numerous galleries, downtown Olympia hosts the Washington Center, home to the Olympia Symphony Orchestra, Harlequin Productions at the historic State Theater, as well as the Capital Playhouse. The 125-seat, black-box theater runs 11 musicals a year, and the three-week shows were so popular, they added another weekend to each musical starting last September.

"None of those things individually is a significant driver by themselves, but what they do do is drive the economies of other businesses," said Jeff Kingsbury, who founded the playhouse. "It's such a diverse mix of businesses and the thriving arts, it really helps stabilize the economy all the time."

Located close to both the mountains and the coast, Olympia also earns points for air quality, low crime and other quality-of-life measures. But it's that constant of state government that is "the great equalizer for us," said Michael Cade, executive director of the Thurston County Economic Development Council.

"State capitals are good, especially if … state government's large relative to the size of the town," said Martin, the Fed economist.
Of course, even these "well-insulated" places – Martin's term – would feel the effects of a recession.

Hovind said his use of the term "recession-proof" shouldn't be misconstrued as meaning a place is untouched by economic malaise.
"It's not absolute. You can't look at it in those terms. This is a continuous scale of gray," he says.

Recent article from THE PRESS in Coeur d'Alene, spotlights Riverstone as Coeur d'Alene's second city.

Riverstone is already bustiling with activity and will soon open a Barnes and Noble Booksellers as well as a brand new Fitness Facililty.

Barnes and Noble will stock close to 200,000 book, music, magazine, and DVD titles as well as include a cafe serving Starbucks Coffee. The new Barnes and Noble Jr. Department will hold over 15,000 titles in an easy to browse environment. The Bookstore will also be a Wi-Fi hot spot for the Village at Riverstone as Barnes and Noble will become the community center for the Village at Riverstone. Events will include author readings and discussions, book clubs, and programs with local organizations.

The Ironwood Athletic club will operate a brand new 70,000 SF fitness facility in Riverstone this summer. Included in this facility will be a 25-yard long lap pool, warm water therapy pool, spa, basketball court, weight room, cardio equipment, five indoor tennis courts, squash and racquetball courts, welness rooms for yoga and pilates, and a spinning room. The new gym will be located just 3-acres from Riverstone Lake.

Call us today at 208.292.0935 to learn more about owning a piece of Riverstone. Condominums start at $295,000.

Kiemle & Hagood, one of the largest property managment companies in the Inland Northwest, will open a satellite office in Riverstone this spring.

The company will lease 1,200 SF of space on the first level of the Riverstone III Office Building at 2065 E. Riverstone Drive. As part of the lease agreement, Kiemle & Hagood will manage and market the space in it.

Kiemle & Hagood will also manage the condominiums in the Village at Riverstone.

Riverstone is excited to partner with Kiemle & Hagood. The company has about 150 employees and manages 5 million SF of commercial, office, retail, and industrial space.

Don't miss the races coming to Riverstone this spring and Summer.


May 25, 2008
2008 Coeur d’ Alene Marathon at Riverstone/Half/5k
www.cdamarathon.com


July 6, 2008
Race the River Triathlon at Riverstone
Sprint distance
www.racetheriver.com

"After a month of renovations, the new owners of the San Francisco Sourdough Eatery in Riverstone will unveil their new look.

Janelle Kuhns bought the franchise on Jan. 1, and replaced the brick wallpaper with real brick and added a kids' zone and new fixtures.

She and six employees will open at 11 a.m. today. Dine-in and take-out is available, as is lunchtime delivery to businesses.

Hours are 11 a.m. to 7 p.m. Monday through Thursday, 11 a.m. to 9 p.m. Friday and Saturday, and noon to 4 p.m. Sunday. The shop is at 2392 Old Mill Loop near the Regal Cinema."

From the Coeur d'Alene Press

U2 will release their live-action movie exhibited in 3-D at Riverstone on February 15th. U2 3-D was shot at nine concerts during the Vertigo Tour with the most 3-D cameras ever used for a single project: it will only be released in 3-D theaters nation wide. The complete film premiered at the 2008 Sundance Film Festival on January 19, 2008 and has been praised by both viewers and critics. Don't miss it!

Check out the movie here: www.u23dmovie.com.

The Coeur d'Alene Press has released their 2007's business top-10 list. This is what the paper had to say about the Village at Riverstone.



Riverstone rocks

Work began before spring broke on The Village at Riverstone, where retail and residential development will be part of the $475 million Riverstone West project.

The Village at Riverstone got under way in a big way in 2007, with construction starting on a 209,000-square-foot Main Street center featuring full-service restaurants, the 14-screen Regal Cinemas, services and apparel retailers.

In the summer, the public was invited to enjoy the 10-acre public park with its six-acre artificial lake.

Later in the year, plans were announced for a new $10 million health and wellness center overlooking the Riverstone park and pond.

"It will be a brand-new state-of-the-art facility," said Jack Tawney, a partner in the Ironwood Athletic Club, which will operate the new 70,000-square-foot center.

In June the banks of the lake saw the opening of the first commercial project when Bardenay opened. The bar and restaurant has a feature that's unique, with a still on site making vodka.

In August, Azteca Southwest Grill opened near the Regal Cinemas, with 70 employees.

In October, Barnes & Noble Inc. confirmed it will open a new bookstore in The Village in July 2008.

The store will be about 28,000 square feet and will stock close to 200,000 book, music, DVD and magazine titles and include a cafe serving Starbucks coffee.

As the year grew to a close, another addition, valued at more than $10 million, was completed when the 124-room Hampton Inn & Suites opened.

At peak operation, about 30 will be employed in the hotel.

The Hampton Inn & Suites is now open in Riverstone. The Hampton Inn & Suites is the latest addition to the Riverstone development. Check out the recent article from the CDA Press. Click Here

Here are some of the amenities:

With 124 rooms on five floors, including about 70 suites, the hotel is a Hilton-branded "limited service" hotel with no cooked food or beverage service

With posted rates from $99 to $129, Hampton offers an extensive list of amenities, including wired and wireless Internet, wet bars including a refrigerator and microwave, LodgeNet pay-per-view on 32-inch high-definition flat-screen TVs, a pool and a "suite shop," with beverages including beer and wine.

A deluxe complimentary breakfast is served in a dining area with seating for 113 and includes eggs, meats and pastries.

A "state-of-the-art fitness center" includes cardio and weight equipment.

Thick carpets, heavy fabrics and wood furnishings, porcelain tiles and granite on every flat surface adds to the ambiance of the hotel's rooms. Cleanliness is emphasized, with premium duvet covers cleaned after each check-out.

About 70 of the rooms include balconies that overlook the Riverstone project.

A business center and high-tech audio-visual equipment are provided, along with a board room and a 3,000-square-foot conference center for about 200 that can be divided.

At peak operation, about 30 will be employed in the hotel.

Information: 208-769-7900

New article on Riverstone by Rick Thomas of the CDA Press. Click Here

Here are some of the highlights.

Riverstone will likely prove to be the most significant economic development seen in North Idaho.

"An estimate of $250 million is a good number right now," said John Stone of SRM Development, which is well into the second phase of the 160-acre reclamation project. "It will probably be $1 billion by the time it's said and done."

Stone estimates 3,142 jobs have been created to date at Riverstone.

Upon completion, an estimated 2,500 people will live and another 5,000 will work at Riverstone.

In the first quarter of 2008, the Sangria Grill is expected to open in the same building as the cinemas.

Keeping Riverstone connected to downtown and other sites such as the Kroc Center is part of the master plan for the city-within-a-city. Designs for the pair of transit buses purchased last year are under way, and the developers are working with the city and CityLink to create a feasible system, Tomson said. The hope is a dedicated track between Riverstone and the proposed education corridor can be included.

"I think we've had a real good year," Stone said. "Next year should be the best of all."

The CDA Press reported today that Ironwood Athletic Club will be moving into Riverstone.

Here are some excerpts from the Article.

The state of the art fitness center will open in little more than a year with the opening of a new $10 million health and wellness center overlooking the Riverstone park and pond.

"It will be a brand new state-of-the-art facility," said Jack Tawney, a partner in the Ironwood Athletic Club, which will operate the new 70,000-square-foot center.

Included will be a 25-yard-long indoor lap pool, warm water therapy pool, spa, basketball court, weight room, cardio equipment, four to five indoor tennis courts, squash and racquet ball, wellness rooms for yoga and Pilates and a spinning room.

"With all of the new residential being built at Riverstone and the greater Coeur d'Alene area, we believe a first-class health and wellness center is a must have for the Coeur d'Alene community." - John Stone

"It fits the vision of Riverstone as a place to live an active and healthy lifestyle."

Ironwood Athletic Club was opened in February 1981 by Chip Althen and Jack Tawney as owners and Gary Retter as manager.

The company has grown to nine clubs in the Pacific Northwest, with 35,000 members in Coeur d'Alene, Hayden, Post Falls, Missoula, Great Falls, Big Fork and Whitefish, Mont., and Seattle and Edmonds, Wash. In January, Retter and Jim Doty became owners in DART Club Management with Althen and Tawney to manage and operate the company.

Ironwood has grown to about 3,500 members, but when the new facility opens it will close.

The new gym has not yet been designed, but will sit on about 3 to 3.5 acres at the west end of the pond along the Centennial Trail. Its design will complement the rest of the Riverstone project, he said, and unlike the current club will include a large window area.

He said the club will likely employ about 100, including full time and part time.

The owners said the new facility will be a complement to the Kroc Center, set to open in spring 2009 a few blocks north of Riverstone just off Ramsey Road.

While the two facilities will have some overlapping athletic offerings, the club at Riverstone will not be a community center like Kroc and unlike the Kroc Center will offer a complete tennis, racquetball and squash center to its members, owners said.

Join us as we celebrate the beginning of the holiday season by illuminating Riverstone's Christmas tree. This event will be accompanied by Santa’s arrival as well as carolers. The festivities begin at 6:00 p.m on December 1st, and will be held at the corner of Riverstone Drive and Old Mill Loop in the Village at Riverstone. Trolley rides throughout the Village will be offered. For more information, please call (208) 292-0935.

John Stone, Developer of Riverstone, has written about the improvement and growth of Coeur d'Alene.

The article speaks about the great job being done by the Mayor Sandi Bloem, the City Council, Planning and Zoning, and the Lake City Development Corporation.

Coeur d'Alene now ranks as the sixth best performing small city in the country.

Without the Lake City Development Corporation, Tony Berns, and the use of Tax Increment Financing, we would still be in the dark ages. The LCDC has made possible the development of public roads, parks, parking garages as well as affordable and work force housing.

Read John's full opinion Here.

Don't forget to vote on November 6th to reelect our city officials who have done a tremendous job.

Barnes and Noble has signed a lease agreement to open a new bookstore at the Village at Riverstone. The store will be the anchor for the Village West building as the largest retail tenant.

Read More about Barnes and Noble from the CDA Press or Yahoo Finance.

The Coeur d'Alene press ran an article over the weekend, highlighting the residential portion of Riverstone. The article highlights the Village as 75% sold, and the furthest along of all the residences under construction.

"The development is a unique development, lending itself to supporting this type of urban living." - Dave Tomson, SRM Development.

Check out the CDA Press Article Here.

Red Robin Gourmet Burgers and Spirits is coming to town. John Finnemore with Red Robin International in Greenwood Village, Colo., said the company is in the process of pulling permits and they hope to be open by the spring of 2008.

Check out the entire article from the CDA Press Here.