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Developer seeks to revive River 8 project near Boise Library

Developer Steve Hosac wants another chance to build condos on an underused lot near the Boise Library.

Hosac’s firm, The Hosac Co. of Boise, has crafted new plans to construct a seven-story building between Eighth and Ninth streets, just north of River Street, with two stories of parking and 130 condo units.

Boise’s urban renewal agency, Capital City Development Corp., which owns the lot and a warehouse on the site, will hear a presentation from Hosac Dec. 13.

In 2007, CCDC rebuffed Hosac’s plans as part of a two-way design competition. Instead, the agency favored developer Mark Rivers. But Rivers’ plans fell through because of the collapsed housing market.

In recent months, plans by high-tech company Biomark to redevelop and occupy the warehouse also foundered.

Hosac, who built the nearby 77-unit CitySide Lofts, said he jumped at the chance to try again to develop the site – one block from the library, one block from the Greenbelt and a five-minute walk from both downtown and Boise State University.

He said he has no hard feelings from losing out in 2007, even though company officials complained at the time that the process had been unfair.

“Now’s now and then was then,” he said. “I’m not looking back at what happened then. I’m looking forward.”

He said he is counting on the local housing market turning around within a few years, by the time the building is ready to be occupied.

Hosac’s plans feature a two-level parking garage with 185 spaces and three separate five-story residential buildings on top. The residential structures would be connected by glassed-in hallways and could be built in phases.

The building would also feature 4,500 square feet of retail at Eighth and River and another 1,000 square feet of retail at Ninth and River.

John Price of Boise-based The Architects Office will discuss the designs at the CCDC meeting.


About Simon Shifrin