Where business news starts in Boise

Where business news starts in Boise.

Ash + River Apartments first Boise commercial project with deed-restricted affordable units

The new Ash + River Apartments on Ash St. in Boise wrapped up earlier this year. THe new complex is aimed at bringing a more affordable option to Downtown Boise.

The project includes one and three-bedroom townhouse-style units, many with integrated garages. Ash and River rents aim for those who make less than 120% of the average median income for a family. That works out to those making $47,000 to $88,000 in combined yearly income.

“We’ve done our best to bring exactly what we intended to bring to market – from the pretty pictures to the final development,” Dean Papé with deChase Miksis said. “So far we are about 35% leased, and have Boise State students, retired folks and single mothers in the development.”

Ash and River townhomes Boise
Some of the units feature integrated single-car garages
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Papé said the smaller units continue to sell quickly, but the three-bedroom option is moving slower. The project’s website lists three-bedrooms from $1850 to $2,095 per month. The available one bedroom fetches $1,500 per month.

The three-bedroom units at Ash and River feature one bedroom on each floor of the three-story project, allowing for a shared roommate-living situation.

CCDC’s role

The 24-unit project came about from a request for proposal process from the Capital City Development Corporation, which formerly owned the land. CCDC sold the land to deChase Miksis with a development agreement dictating particulars of the project. One of those includes a 7-year deed restriction requiring units lease for 80-120% of the adjusted median income for the Boise area. deChase Miksis also is eligible for up to $318,000 in reimbursement for improvements in the public right away – including the streetscape, water/sewer/power pole improvements and pathway connections.

“This whole project is illustrative of the double-edged sword of affordable housing,” CCDC commissioner Maryanne Jordan said. “It is doable but it difficult. There is no one organization that can do this on their own. This is a village effort – and this is exciting to see. It’s great for the people who are living there because they wouldn’t be able to live anywhere close to this area.”

The project includes a small 500-square-foot commercial space on the Pioneer Pathway, which currently sits empty. Ash and River sits next to the historic Hayman House, which the City of Boise acquired for future use.

Ash and River on Pioneer Pathway
Ash and River Apartments along the Pioneer Pathway in Boise. Photo: Don Day/BoiseDev
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