The City of Boise is backing out of a proposed land swap with the Harris Family to develop the 160-acre Murgoitio park site in Southwest Boise.
On Monday afternoon, the city announced the trade was no longer feasible because of the value of the once-planned park site.
Mayor Lauren McLean considered the trade to construct housing on the site to alleviate the Treasure Valley’s growing housing crisis. Still, in the press release, she said recent nearby sales meant the property would likely be worth far more than the $7.8 million estimated in 2020.
“In light of this, and with knowledge of recent bids on land adjacent to the Murgoitio parcel, the proposed trade agreement doesn’t make financial sense for Boise residents and is no longer under consideration,” McLean wrote.
This comes after weeks of heavy opposition to the trade from nearby neighbors in Southwest Boise, as well as a recent auction of a 15-acre parcel adjacent to the Murogitio site for $12 million.
The Boise City Council is slated to discuss the next steps for the Murogitio site at Tuesday’s city council work session.
“We as a city are committed to using this land in a way that best serves Boise taxpayers,” McLean said. “I look forward to engaging members of our community to seek solutions that best meet the needs of the residents of Boise.”
McLean’s move to end the deal comes after BoiseDev reporting found the deal hinged in part on the Harris family agreeing to forgo building some homes in the foothills it had entitlements to. But an associated developer said it could not use the entitlements due to safety concerns. A nearby parcel also sold for nearly $800,000 an acre, as BoiseDev reported.
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