Last week, we told you the State of Idaho would auction off about a half a square mile near Caldwell. It hoped the auction would fetch about $6 million, based on an appraisal.
Twelve bidders entered the auction. And when the dust settled, the State of Idaho walked away with $35.2 million – nearly five times the appraisal amount. When a buyer’s premium (money paid to the auction firm) is factored in, the land fetched a total of $36.608 million.
The winner? Endurance Holdings, LLC of Boise. You might not recognize that firm name – but the registered owner’s name is familiar: Corey Barton – owner of Boise-based homebuilder CBH Homes.
The parcels currently sit in the Idaho Land Endowment, controlled by the Idaho Land Board. Endowment lands are managed by the Idaho Land Board for the benefit of public schools. The land sits just to the north of Vallivue Middle School along Homedale Rd. and are currently used as agricultural land. The University of Idaho started leasing the land in the 1940s and will give up the lease to allow for the sale.
The funds will go back to the UI to build a new Center for Agriculture, Food and the Environment in the Twin Falls area.
Caldwell’s Future Use Land Map designates the site for housing.