An Idaho company that provides services to charter schools has bought the old Macy’s building in Downtown Boise.
The building, at the corner of 10th and Main streets, had been owned by partners Brad Elg, Jeff Shneider and David Wali, who bought it for $1 million in 2011 intending to develop affordable housing there. The buyer is Boise's Athlos Academies, founded in 2006 by partners Ryan Van Alfen and Jason Kotter.
The sales price was not disclosed, though Athlos said it bought the 115,000-square-foot building for under $13 a square foot, which would be less than $1.5 million. The asking price was $2.1 million.
Athlos helps public charter schools with charter-application development, facility construction, leasing, bond market assistance, operational support, curriculum, staff and student recruitment and teacher training. It partners with schools in Arizona, Texas, and Minnesota.
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The open, first-floor space will be used as a model of the physical activity spaces around which each Athlos school is built. The company plans to use the area as a training venue for teachers and employees. Other space will house Athlos employees.
The building will be renovated, and 25,000 square feet of the 90,000 square feet of office space will be leased to other businesses. Renovations are expected to be done by the summer of 2016.
The C.C. Anderson Building was designed by the architectural firm Tourtellotte and Hummel and built in 1927. Former tenants include the Golden Rule, Bon Marche and Macy’s department stores. It has been vacant since Macy's closed in 2010.