Boise apartments, including for students, lower-income tenants. Houses. Coming near you
The latest proposed developments, other construction projects and new businesses around Idaho’s Treasure Valley:
Boise
An apartment building proposed by Boise developer David Wali is progressing through planning stages.
The 91-unit building is planned at 818 W. Ann Morrison Park Drive near Boise State University. Named Capitol Student Housing, the building would include parking underneath four floors of two-, three- and four-bedroom units.
A design review hearing is scheduled for 6 p.m. Wednesday, March 9, at City Hall.
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Cedar and Sage Homes, an Eagle company, is proposing to build a 48-unit apartment building that includes 16 studio, 16 one-bedroom and 16 two-bedroom apartments.
The building, which is next expected to face a design review hearing, is at 5122 W. State St.
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A developer represented by Beegawk LLC’s Kyle Sales has proposed two apartment buildings with 36 units at 2408 S. Broadway Ave., just west of Ivywild Park.
The application filed with the city of Boise is for a planned unit development. The project is being called the Veazey Park Apartments.
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An affordable apartment complex on the Boise Bench is moving forward.
All 112 units are planned for people earning up to 60% of the area median income, according to the application. There are plans for 48 one-bedroom units, 40 two-bedroom units and 24 three-bedroom units. J Fisher Cos., a Centerville, Utah, firm, is the developer.
The complex at 5522 W. Franklin Road is scheduled for a design review hearing on March 9.
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Hubble Homes plans to build a 40-house subdivision near the northwest corner of West Lake Hazel and South Five Mile roads.
The 3.2 acres off West Goldenspire Drive are in unincorporated Ada County, outside Boise city limits, according to the application. The subdivision would have 44 total lots, including three common lots and one common drive.
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Emily Baun, who works for Idahome Living Real Estate, proposes building 37 townhouses at 6776 E. Warm Springs Ave. in Southeast Boise.
The company applied for a neighborhood meeting list, one of the first steps required before the potential annexation and rezoning of the property.
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The Southern Idaho Corp. of Seventh-day Adventists has plans to build an 11,296-square-foot community center at the site of the Cloverdale Seventh-day Adventist Church at 1115 N. Cloverdale Road in West Boise.
A permit was approved for contractors to excavate, grade and compact the site. Another permit is required to build the new building.
The permit was first reported by BuildZoom.
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Kuna
Chase Craig, a developer with Boise Basin Development LLC, asked the city of Kuna to annex 51.6 acres for future development.
The parcels include farmland and a residence at 5055 E. Kuna Road.
In a Planning and Zoning Commission hearing, Craig said the request was just for annexation, but development would occur in the future and would connect to city services.
Craig mentioned Kuna’s need for affordable housing, “since the current median home price was over $400,000.”
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Eagle
Ageless Men’s Health LLC, a medical-clinic company, leased 2,427 square feet of retail space at 1545 E. Iron Eagle Drive, Suite 101, Colliers reports.
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Notable
Sales and prices of Treasure Valley land sold for development are rising. National home developers entering the Boise-area market caused Treasure Valley sales of land for residential development to skyrocket last year, a Boise commercial real estate agency says.
The entry of builders such as Lennar and KB Homes contributed to the sale of more than 4,500 acres for residential development, up 62% from 2020, TOK Commercial reports. The dollar value reached $300 million, more than double the 2020 total. That’s about $67,000 per acre.
“Residential land is expected to stay in high demand, however increased entitlement risk and municipalities’ policies on residential growth will be ongoing challenges for developers,” the report said. An entitlement is a set of local-government approvals needed to develop property.
Builders set a record by seeking 7,500 permits last year for new houses, TOK said. Their combined value totaled more than $2 billion. That’s about $267,000 per house.
It was also a big year for industrial land, with nearly 600 acres sold for a combined $72 million, mostly in Canyon County, TOK said.
This story was originally published March 3, 2022 at 4:00 AM.
