Cottonwood Meadows, a 48-unit senior housing apartment complex, is under construction at State Street and Edgewood Lane.
Monthly rents will range from $291 to $641 in the 32 one-bedroom units that measure 681 square feet, and from $489 to $765 in the 16 945-square-foot two-bedroom units, said Denise Carter, chief portfolio officer at Eagle-based Pacific West Communities.
As is typical in an affordable housing project, Cottonwood Meadows will also have three market-rate one-bedroom apartments that will probably rent for $775 or $800, and two market-rate two-bedrooms with rents at about $900, Carter said.
The minimum age for residents is 62. Cottonwood is targeting residents with 30 and 60 percent of the area’s median income, she said.
Construction on the three-story structure started in April with completion expected in March.
“Any time we can provide affordable housing and give seniors a new home that they would not be able to afford on their income is a reward for everyone,” Carter said. “They are not having to forego necessities to afford a new home.”
Pacific West has 25 affordable senior communities in Alaska, Arizona, California, Nevada, and Wyoming. It also has one completed in Rexburg and two under construction in Lewiston and Eagle’s Cottonwood Meadows. In all, Pacific West Communities has 151 completed properties in 11 states, including market-rate apartments, workforce housing, senior housing and charter schools.
Pacific West is developing and owning Cottonwood Meadows in partnership with Northwest Integrity Housing Co. of Boise. The architect is Pacific West Architecture and the general contractor is Pacific West Builders.
All the Pacific West entities fall within The Pacific Companies of Eagle.