A developer of apartments and townhouses is building its first Treasure Valley complex outside Boise to provide housing for less money than new Downtown apartments cost.
LocalConstruct, which built The Fowler Apartments — Boise’s most expensive — and plans to build the comparably priced The Cartee apartments a block away, has turned in the meantime to the 277-unit The Clara apartments and townhouses in Eagle.
The complex of 19 two- and three-story units, known so far as the Linder Apartments, will go up on 22 acres west of Linder Road and south of State Street just north of the Boise River and alongside a pond. A 300-apartment complex known as Bel Air was planned there five years ago but never built.
Rents are targeted to be $1,050 per month for an entry-level one-bedroom apartment and $1,300 to $1,500 for two-bedroom units, said Casey Lynch, cofounder of LocalConstruct, a Los Angeles developer that has an office in Boise. Three-bedroom units also will be offered, including townhouses with two-car garages.
In comparison, a one-bedroom, 640-square-foot apartment in The Fowler rents for $1,319 a month, and an 845-square-foot two-bedroom unit rents for $2,177.
“We’ve historically focused on on urban development, but we recognized that urban projects are always going to be more costly,” Lynch said in a telephone interview. “A lot of people want a quality experience but can’t afford to live in an urban environment.”
Lynch said LocalConstruct’s apartments are not high-end, luxury units. “We offer high-quality housing to the middle class,” he said.
The complex will be named for Clara Aikens, the daughter of Eagle founder Thomas Hugh Aikens, Lynch said. Clara Aikens proposed Eagle as the township’s name in the 1890s.
A clubhouse is being built first, along with a beach with a ramp to the pond. An amenity shack will house paddleboards and canoes. The clubhouse and some living units could be finished next year.
The project is the latest in a series of complexes going up around the Treasure Valley. But Lynch doesn’t think developers like him are in danger of overbuilding apartments.
“There is a lot of demand to live in the Treasure Valley for a lot of good reasons that have nothing to do with developers or contractors,” he said. “A lot of people don’t appreciate that the ratio of apartments to housing in Boise and nationally has shifted. More and more people are choosing to live in apartments. Boise has always been very, very heavily single-family ownership, way higher than the national average.”