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‘Financially attainable’ apartments proposed for empty lot on Broadway in Boise

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A 40-unit apartment complex could go up on a long-vacant lot on Broadway Ave. in Boise.

MVRK Development of Denver hopes to build two three-story buildings on a 1.1 acre piece of property at 2312 S. Broadway Ave., next to a Pioneer Federal Credit Union branch.

The project would include 29 one-bedroom and 11 two-bedroom apartments for a total of 51 bedrooms.

The project, which is titled Ascent Broadway, would include parking spaces for 48 cars, and a number of amenities.

“Multiple open space amenity areas are proposed with the project, located interior to the site and consist of various plaza/patio spaces, seating, fenced dog area, and a bocce/game area, along with private patios/balconies on units, which will all provide for the comfort and enjoyment of the residents and meet the requirements of the Planned Unit Development code,” Ben Semple with Rodney Evans + Partners wrote in an application letter. “The parking lot and landscape buffer on the eastern side of the site will allow for extensive landscaping, which will include a mixture of evergreen and deciduous trees, as well as shrubs and perennials.

‘Financially attainable’

In the letter, Semple went into significant detail on MVRK’s development approach. Though based in Denver, Semple said the firm is currently doing all of its work in the Boise market.

“We want to create as strong value propositions as possible in every asset we buy or develop,” Semple wrote in the first person on behalf of MVRK. “Our entire thesis behind our market and submarket selection, as well as the product we develop, is driven by sociological and socio-economic factors. Boiled down to the simplest of terms, we aim to develop financially attainable product that appeals to as much of the market as possible and that is perceived to provide tremendous value by the market. We want every tenant to look at our properties and think to themselves, ‘this is a great value for the cost.'”

As is typical for project applications for new apartment projects, the report does not indicate what the apartments could rent for when complete.

Four large trees are currently on the property. The applicants claim that each of the trees is “damaged/unhealthy” and proposes to cut down the trees to make way for the apartment complex.

They say they will plant seven new large trees in new locations on the site.

The project will need to get approval for a planned unit development from the City of Boise, and also gain design review.

Don Day - BoiseDev Editor & Founder
Don Day - BoiseDev Editor & Founder
Don is the founder and publisher of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow. Contact him at [email protected].

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