The 28-unit first phase of The Afton condominium project is nearly complete, with tenants expected to move in starting in June, developer Michael Hormaechea said.
He said 27 of the condos have sold at the redevelopment project at Eighth and River streets in downtown Boise.
“We are certainly thrilled at the response,” said Hormaechea, managing partner of RMH Company.
Hormaechea is in the final design stage for a second building at The Afton at Ninth and River streets. He would not say how many units that building will have, but in earlier interviews he estimated 30 to 35 units.
“Give me another month and we’ll be able to give you more information on phase two,” he said.
The Afton is a redevelopment project by the Capital City Development Corp., the city’s urban renewal agency, which owned the 1.2-acre property that once held an empty, former Associated Distributing & Leasing warehouse and a second empty warehouse.
Hormaechea bought the property for $1.7 million in a CCDC redevelopment agreement that will reimburse him $850,000 when construction of the first building is completed and reimburse him the other $850,000 when the second building is completed.
“It’s a thoughtfully designed project in the way it interacts with the Eighth Street corridor,” said Shellan Rodriguez, CCDC’s property development project manager. “CCDC sees it as an effective way to reach the city goal of 1,000 new homes in downtown by 2020.”
Construction started in October 2015. The architect was GGLO Architects of Seattle and the general contractor is Andersen Construction of Boise.