A Boise/Portland development team proposes to build a three-story, 31-unit workforce apartment building on the Nevada-shaped .71-acre parcel at River and Ash streets, across from Payette Brewing and alongside the Pioneer Corridor bicycle-and-pedestrian path.
Eugene, Ore.-based deChase Miksis, headed by Dean Papé in Boise and Gerding Eldlen Development in Portland, are in exclusive negotiations for a development agreement with the Capital City Development Corp., the city’s redevelopment agency. CCDC owns the property, which it assembled from 2006 to 2011.
The historic Hayman House, which stands at one corner, will be preserved.
CCDC’s Sept. 30 request for proposals drew two proposals by the Nov. 15 deadline, but Gardner Co. later withdrew its proposal, said Shellan Rodriguez, CCDC’s project manager for property development.
“By the time the award came (in December), there was only one applicant,” she said.
The $7.34 million Ash and River proposal could start construction toward the end of the year, according to the developers’ proposal.
The negotiations await a completed restricted-use appraisal of the property, based on CCDC’s requirement that the apartments be affordable for individuals and families earning between 80 and 140 percent of the local average median wage so that no more than 35 percent of the wage goes to rent or mortgage payments, according to the CCDC request for proposals.
The initial sales price was $645,000. The final negotiated sales price likely will be refundable to the developer at the project’s completion, an incentive also in play at the nearby The Afton condos construction site, Rodriguez said.
Gerding Eldlen and deChase Miksis agreed to maintain workforce housing pricing through 2025.
Papé declined to speak to the Idaho Business Review about the project, citing ongoing negotiations with CCDC.
The project architects are Pivot North in Boise, a new architecture firm composed of former Hummel Architects architects, and GGLO Design of Seattle, which also designed The Afton. The general contractor is Visser Building Company of Boise.