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CCDC to buy land under proposed short-term condos; Affordable housing possible

Boise Regional Realtors

Last year, BoiseDev told you about a proposed project to bring condos to an empty site on Idaho St. near 18th St. in Boise. The project would have added 18 condo units, with an aim to bring short and medium-term rentals to the neighborhood.

The Boise Planning & Zoning Commission initially denied the project, but it later won approval on appeal. Earlier this spring, the project owner listed the land for sale.

Now, the Capital City Development Corporation hopes to buy it and redevelop the site.

“This site can be redeveloped for more affordable and community housing,” CCDC’s Brady Shinn said. “CCDC has experience in public-private partnerships of all forms.”

Shinn cited work on projects like the Ash Street Condos, River Street Lofts and other projects.

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The agency bid $605,000 on the parcel.

[Old Bench school site was going to be a gas station. Now, a very different plan is forming]

Site presented challenges

The developer of the project, Cinco Port LLC ran into issues, which prompted it to list the property according to CCDC.

“Certain site conditions, most noticeably the existing soft soils, represent a large hurdle for the typical private developer market for a site of this size and location,” the agency wrote in its proposal to the board. “As permitted, the site would require extensive soil remediation. Those costs would ultimately be passed on to the tenants, raising the rental units’ price point”

Neighbors were upset that the project would primarily provide short term rentals.

CCDC board chair Dana Zuckerman said the agency’s past experience on this type of project makes it a good fit.

“I am very interested in seeing us go ahead with the purchase of this property,” Zuckerman said. “I think we’ve done a really good job every time we’ve purchased a property and put it out for an RFP. The Ash Street townhomes is an excellent example of that.”

As Zuckerman noted, CCDC plans to put it up for a request for proposals with developers to try to develop housing in the area.

“This is a key location in developing a key part of Downtown Boise,” she said. “I’d love to see the housing continue down that corridor.”

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