Whenever the four owners of the almost four acres between Front, Grove, 3rd and 4th streets settle on a project, it will likely include housing and office space, said Tim Wilcomb, who owns one of the lots.
"I think retail's a bit of a stretch," Wilcomb said.
The other three owners of the property are Ada County, Ken Howell and the Stadstad family, Wilcomb said. Howell and the Stadstads own the apartments on the north side of the land, he said, and Wilcomb and the county use the south and west sides for parking. They also allow nonprofits to hold events there.
At some point, Wilcomb said, the owners want to intensify the use of the property, which enjoys excellent exposure to traffic and a proximity to Downtown Boise. As Boise's downtown grows, that proximity becomes more and more valuable. Developers often mention the desire to do more downtown projects, but the difficulty of finding developable land is a significant hurdle.
The Boise City Council voted almost a year ago to allow a rezone of the property that would allow unlimited density if housing is included in a project. Tuesday afternoon, the Council is scheduled to begin the process of a law that would rezone the land.
Wilcomb has experience with residential-commercial ventures in Downtown Boise. He developed the Veltex Building, a five-story, 60,000-square-foot residential and commercial building on the southeast corner of 5th and Main streets.