This Meridian development sat partially built. Could new owners revitalize it?
The future is looking brighter for a downtown Meridian eyesore than it has in a long time.
Once hoped to revitalize the city center, the Union 93 development has sat stalled and partially built for over three years, embroiled in legal disputes over $20 million in unpaid construction work. Instead of hundreds of apartments, envisioned to support businesses in the downtown core, the development now sports exposed rebar and beams that reach toward a roofless sky.
But it may not for much longer.
Meridian’s Ahlquist development and Eagle’s The Pacific Cos. have teamed up to buy the stalled property for $6.77 milllion, according to the Ada County Sheriff’s Office, which oversaw the public auction on Thursday. Together, the two companies plan to “reimagine” the project, according to a news release from Ahlquist’s team.
The sale leaves millions of dollars owed to contractors by the failed project’s developer, Boise’s Bill Truax and his Galena Opportunity Fund, still unpaid.
Ahquist’s release said the purchase of the property, marks “a new chapter” for the development, which sits across from Meridian City Hall on Broadway Avenue and Main Street. It had originally been planned for 350 apartments, some businesses and a plaza.
It would also mark the Ahlquist’s second big swing on a stalled city-center development, after Eighth & Main, the 18-story tower known for tenant Zions Bank, on the site of the so-called “Boise Hole.”
“At Ahlquist, we pride ourselves on taking on big challenges,” said Ahlquist in the release. “In 2014, we celebrated the opening of 8th & Main in downtown Boise — transforming a once-failed development into a thriving landmark in the heart of the city.
“The Union 93 project offers another exciting opportunity to help shape the future, this time in downtown Meridian.”
It’s unclear what Ahlquist and The Pacific Cos. now plan for the site, but according to Meridian officials, it’ll involve city input.
“Any plans for the site would be reviewed through the city’s normal community development design review and permitting process,” said Meridian spokesperson Trevor Smith in an email to the Idaho Statesman. Asked if the city hopes to see the original plans come to fruition, Smith replied, “At this stage we will wait to see what the new development team brings forward.”
The goal for the city, Smith said, remains a “vibrant and active downtown.”
Millions still unpaid
The property was put up for auction after going into foreclosure a year ago. Proceeds from the sale were intended to help contractors recoup some of their losses on the project, as dictated by a judgment resulting from a lawsuit numerous contractors filed in 2022 against Galena.
According to the Ada County Sheriff’s Office, proceeds would have gone toward amounts owed to the following contractors, in order by which they would be reimbursed:
- Boise engineering firm Axiom: $447,000.
- Utah construction company Sunroc: $1.1 million.
- Boise construction management company CM Co.: $5.1 million.
- Meridian concrete and supply company CCS: $1.8 million.
- Utah construction company Okland Construction: $9.5 million.
Each amount owed continued to accrue interest up until the sale.
Ahlquist and Pacific Cos.’ purchase involved taking over the roughly $5 million credit owed to CM Co. through a “transfer of judgment” to a limited-liability company, Grey Owl Holdings, court documents obtained by the Statesman showed. The buyers spent roughly $1.5 million more, satisfying the amounts owed to Axiom and Sunroc.
It is unclear if CCS and Okland could pursue other means to obtain money owed by Galena. An email inquiry from the Statesman to an Okland representative was not immediately returned.
In a statement emailed to the Statesman, Mayor Robert Simison said he was “happy” about the sale.
“As the heart of our community, downtown Meridian continues to represent a great opportunity for growth and revitalization for the city,” Simison said. He said he looks forward to seeing any new plans.
Ahlquist was not immediately available for comment on the future of the site.
This story was originally published October 11, 2025 at 4:00 AM.
