Construction has begun on an eight-story apartment building a block south of the Ada County Courthouse.
The building at 3rd and Myrtle streets, named “Third and Myrtle” on architectural renderings, will have 285,000 square feet, with 173 apartments and 3,000 square feet of ground-floor retail space. It will include studios and one- and two-bedroom apartments.
The developers are River Caddis Development Corp. of East Lansing, Michigan, and Standard Capital, an investment and asset management firm in Los Angeles. The Opus Group, from Minneapolis, Minnesota, is the design-builder, architect and structural engineer.
The building is expected to be completed in summer 2021.
Parking will be provided inside the building, with 394 spaces on the second, third and fourth floors. There will also be bike storage areas on those floors.
Ada County will own the parking structure, paying Caddis $15 million, county spokeswoman Elizabeth Duncan said. The decision was made by the previous board of commissioners.
There will be 173 spaces for residents, one space per apartment, will 221 spaces available for county employee use.
The county hasn’t decided whether to allow public parking in the garage at night and on weekends, Duncan said.
Another downtown apartment project, The Cartee at 4th and Broad streets, is breaking ground this week. The eight-story building will have 160 apartments.
The projects are part of an apartment boom that is bringing the construction of 1,542 units in Ada County this year, according to a report from Colliers International. Developers have built 3,581 new rental units in Ada County since 2015, raising the total to nearly 19,000.