You could soon rent a new, 350-square-foot efficiency apartment in Downtown Boise for $900 a month, or a two-bedroom apartment for $2,300 or more.
Two more upscale, multistory apartment complexes are a step closer to being built in the Central Addition neighborhood west of WinCo Foods.
The Capital City Development Corp., Boise’s redevelopment agency, heard plans for both on Monday as it considered whether to pay for improvements aimed at fostering private development in the urban renewal district that includes both projects.
Combined, the two plans would bring more than 330 new for-rent units to the Broad Street corridor.
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The Cartee, the first of the two, would sit at the southeast corner of Broad and 4th streets. The eight-story building would have 161 apartments. The units would include 39 studio apartments, 62 one-bedroom apartments, 55 two-bedroom units and five live-work spaces. Rents would start at $1,190 a month, rising to $2,400, at current value, which means the rents could change.
There would be 176 parking spaces within the eight stories. Below the apartments would be 5,000 square feet of retail space. Construction is expected to be complete in November 2021.
The second complex, called Boise Caddis, also eight stories, is set to be built one block east of The Cartee on Broad.
It would have 173 units: 31 studios, 74 one-bedroom units, 43 two-bedroom apartments and 24 efficiencies, which are smaller than studios (around 400 square feet) but not considered micro. The efficiencies would rent starting at $900 at current value, with other units costing as much as $2,300.
Boise Caddis would include 4,000 square feet of retail and 394 parking spaces within the eight stories. Construction is expected to complete in summer 2021.
Both projects may use geothermal energy. The CCDC board approved a plan for improvements for The Cartee on Monday and directed the agency’s staff to present a plan for Boise Caddis.
The Cartee is being developed by LocalConstruct, the Los Angeles developer with a Boise office that opened The Fowler, Boise’s most expensive apartment building, 12 months ago one block west of The Cartee.
Boise Caddis is being developed by River Caddis Development Corp., of East Lansing, Michigan. This would be River Caddis’ first project in Boise.
Business Editor David Staats contributed.