COEUR d'ALENE — A couch, inflatable pool for children, stroller and various tools are among the clutter in front of the Shady Pines Apartments in downtown Coeur d'Alene.

Next to the apartment complex is a boarded up home with warning signs that state "Caution: Hazardous Conditions" and "No Trespassing."

One woman, who lives in a one-bedroom apartment at the complex and did not want her name to be printed, told The Press her family already planned on leaving Shady Pines prior to learning that plans are in the works to demolish the complex, as well as the boarded-up home, to make way for a new development called "The Lake Apartments." Shady Pines, located on the north side of Eighth Street and Mullan Avenue, is run down and the water leaks every time they turn it on, she said.

"I'm surprised we've lived here for two years," she added. "It's not a good place for children to be."

Last week, the Lake Apartments project, which is being developed by Montana-based CDA Mullan Partners LLC, gained more traction as it secured partnership funding with ignite cda, Coeur d'Alene's urban renewal agency, and passed a final hearing with the city's design review commission. Jeremy Voeller, project manager for CDA Mullan Partners, told The Press Tuesday the company does not have a date for breaking ground on the 43-unit complex, nor does it have estimates on what rent will be on the apartments, which range from studios to three-bedroom units.

"There's a lot of variables that are up in the air right now," Voeller said, adding the company is still working with city officials for project approval. "But we're very excited, and the city seems very excited. It's going to be a great project."

Voeller said the company will talk to Shady Pines residents once a timeline is established.

"We're going to be very proactive with helping them out," Voeller said.

On Sept. 21, ignite cda's board of commissioners approved $568,750 in "partnership funding" that, according to Executive Director Tony Berns, will address public improvements on the 1.02-acre piece of land. Partnership funding, according to Berns, means the urban renewal agency will reimburse CDA Mullan Partners for the cost of the public improvements, using property taxes generated by the property itself. According to CDA Mullan, the estimated annual increase to property tax revenue once the project is completed is $134,020.

If the project doesn’t generate enough in tax revenue to complete the reimbursement by 2021, when ignite cda's Lake District expires, Berns said the developer will be on the hook for the difference.

"The property for the proposed Lake Apartments has fallen into disrepair over time — it's blighted," said Mayor Steve Widmyer, who also serves on ignite's board. "This project is an example where urban renewal can assist in developing a blighted property and create a significant tax base for our city."