Business

What’s that construction near State Street west of Gary Lane?

The Retreat at Silvercloud, which already has 180 apartment units, is adding 56 townhouses on the north side of State Street, near the Maverik convenience store.

The two-story rental units are spread among 11 buildings southwest of the apartment complex. Some have four units, others six. Two dozen of the Silvercloud townhouses will have two bedrooms and two bathrooms, with 1,497 square feet each. The rest will have three bedrooms, 2.5 bathrooms and 1,534 square feet.

Trilogy Development of Meridian is developing the project, according to city planning documents.

Some of the townhouses are already occupied, with others still in various stages of construction. Two of the three-bedroom units are available now for $1,485 per month. Eight others will be available later this month and in early December, according to the Retreat at Silvercloud website.

Rentals throughout Boise and the Treasure Valley have been in short supply for several years. The vacancy rate in the Treasure Valley has hovered between 2 percent and 3.5 percent for four years, according to Mountain States Appraisals in Boise.

The north side of State Street from Bogart Lane east to Gary Lane has grown over the past few years with new commercial and residential developments. Last week, a Black Bear Diner opened in the North Pointe development across State Street from Walmart. The Kensington Apartments at North Pointe, with 323 units, opened last year.

Glancey Rockwell & Associates of Boise is the architect.

Representatives of the sales office at The Retreat at Silvercloud did not return phone calls seeking comment. The project was first reported by the Idaho Business Review.

John Sowell: 208-377-6423, @JohnWSowell

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