Twenty townhomes in Northwest Boise will be rented, instead of sold.
The brand-new Roe Street townhomes, located off of State Street, sat empty since construction wrapped up at the end of last year. Months ago CBH advertised the homes for sale for $279,000 each, but now the developer plans to rent all but two of them.
Pride, LLC of Nampa bought twenty of the townhomes, according to a statement from CBH Homes’ Director of Property Management Shannen Floyd. Nampa resident Russell D. Hunemiller, who also runs residential development holding company Buyrite, LLC, is the owner.
“With this news, we are thrilled and proud to be managing these 20 townhome properties through (CBH Homes’) Proximity Property Management Company,” Floyd said in an email.
The 22-home CBH Homes project was part of a proposal for 56 homes approved by the City of Boise in April 2017. The second part of the subdivision has not been constructed yet.
Law allows for rentals
Claudia Fernsworth, a neighbor who lives near the townhomes, expressed frustration that CBH would rent the townhomes instead of selling them. The subdivision is individually plated, which each home on a separate piece of property. She observed CBH Homes installing appliances and blinds in the units earlier this month, which piqued her interest in the property’s sale to an LLC.
“Who puts appliances in units for sale?” she said. “That’s totally unheard of.”
Idaho State Code doesn’t differentiate the types of residential uses in buildings. There is no way to regulate if a property owner sells or rents properties. Neighbors say CBH Homes’ told Boise City Council the homes would be sold individually and are now renting them. But the city says this is not a breach of the development agreement.
“The city does not regulate someone’s ability to rent their home,” City of Boise spokesperson Wayne Rysavy said. “The city also doesn’t regulate the ability of a company to purchase multiple homes and rent them. In this case, the homes can be rented or sold at the discretion of the owner at any time.”
CBH Homes did not say how much the townhomes will rent for.