The Idaho Statesman’s Sven Berg has the big development news: A stadium is in the works on the former Kmart site on American Blvd. This was one of a few sites speculated about by BoiseDev earlier this week.
The deal is complex – involving St. Luke’s Health System, City of Boise, the owners of the Boise Hawks, CCDC and others.
St. Luke’s could sell its 11-acre Americana property to the managing partner of the Boise Hawks, Chris Schoen.
Schoen would then donate a portion of the property to the City of Boise.
A stadium would be built on about 4-acres of the site.
Schoen and his company would build a $60-million mixed-use on the remaining portion of the parcel.
He would donate $1 million towards what is expected to be a $41 million construction cost — with the Capital City Development Corporation take a loan to pay for construction, according to Berg’s reporting. CCDC generally pays off debt obligation on other properties through taxpayer dollars collected via its tax increment financing model.
St. Luke’s says it doesn’t have a deal in place to sell the plot, and many many hurdles remain.
The site is unique, near the Boise River along the American Blvd. corridor which has declined in recent years since the opening of the Connector in the 1990s.