SPOKANE, Wash. -- A new apartment is becoming one of the most anticipated renovations in Spokane.

The historic Ridpath Hotel is being transformed into Ridpath Club Apartments which will breathe new life into a big chunk of Downtown. The new apartment will be home to 206 units.

The Ridpath Club Apartments were expected to open to residents at the beginning of 2018, but that has not happened yet.

"First this is still an ongoing construction project as you'll see. We're anticipating the ability to have be able to move in March," Project Architect Ron Wendle said.

KREM 2 was able to tour the building to see how things were going. The tour started on the first floor at the front desk. Then, we headed up the stairs to the second floor. It is wide open and will feature a grand fireplace.

"The purpose is it will be a communal living room for the people living here. The hotel rooms into apartments are still small spaces. So this gives people a chance to get out and interact with each other," Wendle said.

The third floor is the first floor of apartment units. NAI Black is managing leases at the Ridpath Club Apartments. In fact, the 30 to 40 units on the third floor have already been taken and assigned to applicants based in the order of when they signed up online. The rest of the building will open to residents one floor at a time.

"This pictures very much what we're doing to transform the hotel rooms into an apartment. It's a small apartment indeed, but everything you need to have to live will be right here," Wendle explained.

Of the 206 units at the Ridpath, 180 are considered working force housing, which means renters have to make at least $20,000 per year, but no more than $30,000 per year. The remaining units will be standard market rate without income restrictions.

Here's a break down on rental rates which include utilities: Micro apartments range from $495-$850 per month, studio apartments range from $550-$1080 per month and one and two bedroom apartments will range from $550-$1,575. Parking will be available to residents if you are willing to rent a space of $175 per month.