A property investor may demolish an 82-year-old Art Deco apartment building he owns on the west side of Downtown Boise to make way for a five-story building with condominiums and offices.
Creed Herbold and his wife, Ann Swindell, hope to replace the 1937 building at 1620 W. Bannock St. sometime in 2020, if Boise agrees to rezone the property to allow for offices as well as residential units.
The couple will hold a neighborhood meeting about the project from 6 to 7 p.m. Wednesday, Jan. 30, at the Boise Public Library, 715 S. Capitol Blvd.
Herbold said he considered renovating the building but decided against it. “The electrical is really old,” he said.
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The building is not within a historic district. The city uses historic districts to protect certain old buildings, as it did last year for a group of houses on the east side of Downtown.
Herbold said the new building would help the city increase neighborhood density. The current building has 10 one-bedroom apartments. The new one may have 24 high-end units and feature parking spots and a corner office space on the ground floor, with condos on four floors above.
“The current building sits on a third of the lot,” Herbold told the Statesman in an phone interview Thursday.
He imagines the new building would be similar to many of the Downtown projects recently built or under construction. If he decides to build apartments instead, the units would be “high-end” and similar to those at The Fowler, the seven-story apartment building LocalConstruct opened last year at 5th and Myrtle streets, or the three story The Watercooler, which opened in 2017 at 14th and Idaho streets.
“My wife and I want to live there some day,” Herbold said. “Instead of buying a condo Downtown when we have this place, we could build our dream condo.”
Herbold and Swindell have owned the property since 2002.
The plans are preliminary, and Herbold said he and his wife have yet to secure a developer and financing.
Right now, the apartments in the building go for $795 per month, with heat and water included, Herbold said.
The 0.28-acre parcel is assessed at $993,700, according to the Ada County assessor.