Distinctive ’60s Boise building near Capitol may be torn down. What a developer plans
A longstanding and architecturally distinctive unused bank building kitty-cornered from the Capitol could soon be demolished to make way for a six-story building.
Swanby Investment Group LLC has laid out a vision for the new building at 800 W. State St. immediately northwest of the Statehouse. It would feature a restaurant and retail space on the ground floor, office space on the second floor, residential space on floors 3 through 6 and parking underground, according to an application filed with the city.
The two-story former Home Federal bank building has been vacant for many years. Built in the 1960s, the 11,413-square-foot building stands out because of its stone exterior panels, two-story windows facing State Street and two-story rectangular white columns in front and ribs around the rest of the building.
The building eventually was acquired by the state. In 2016, the Associated Press reported that the Idaho Land Board approved selling the property to a Simplot family partnership for $1.75 million. Swanby Investment Group bought it in 2020. Ada County assesses its value at $1.53 million.
“This has been an underutilized site for some time,” Swanby Investment Group President Shawn Swanby said by phone. “I’m sure everybody who’s lived downtown or been downtown has known this site has really not filled its potential of what it could be.”
Swanby is the CEO of Ednetics, an education technology company, and lives in Post Falls. Swanby Investment Group also owns the adjacent Carnegie Library at 815 W. Washington St.
The company bought the historic library in 2019 with plans to renovate it. The library remains temporarily closed, but Swanby said his long-term plans haven’t changed.
Combined with the vacant bank property, Swanby sees an opportunity to anchor that part of 8th Street.
Swanby said the 800 W. State St. property could support the library and provide lively activity at the northwest corner of North 8th and West State streets. He cited the attractiveness of being at the intersection of 8th Street, because of its vibrancy, and State Street, because it’s a major key corridor for future development.
Swanby declined to detail specifics, saying the plans are still preliminary.
Swanby Investment Group LLC applied for a rezoning of the property from limited office to central business. The central business zone is meant for an “urban downtown mixed-use center” according to the city’s zoning code.
A rezoning requires a recommendation from the Planning and Zoning Commission and approval from the City Council, so at least two public hearings would be held.
This story was originally published July 5, 2022 at 4:00 AM.
