The Boise skyline will be changing as construction gets underway for what will be the newest office building downtown in years.
The developer, Rafanelli & Nahas, hosted a ceremonial groundbreaking Aug. 5 for the 11th & Idaho Building, a 10-story, 191,000-square foot structure.
The site was formerly occupied by a surface parking lot.
Representatives of the city of Boise, business groups, chambers of commerce, and commercial real estate brokers at the event all agreed that the construction of a future multi-tenant office building is a positive sign for the community.
It’s also good to see downtown grow as a job hub as well, said Boise Mayor Dave Bieter, who frequently touts the urban core as an ideal place to live, work, learn and play.
Bieter was one of the dignitaries donning hard hats and wielding shovels to get the $45 million mid-rise project started.
In terms of an economic boost, construction of the building will create about 250 jobs during the course of the 15-month building schedule, said Ben Belt, senior project manager for Engineered Structures Inc., the general contractor.
In addition, the new office building, which will have retail on the ground floor, will create hundreds of new jobs once it’s completed and fully leased.
No tenants have been leased yet, said Scott Schoenherr, a partner at Rafanelli & Nahas. But he expects prospective tenants in the professional services industry such as accountants, lawyers, insurance agencies and consulting firms to make a play for office space, which will be crisp and contemporary. A new urban park will also be a draw, he added.
The developers, who also own the Boise Plaza building, a parking garage and hotel nearby, said the company might even consider selling naming rights to the building, perhaps to a bank. In the meantime, the placeholder name on all the marketing materials is the 11th & Idaho.
Schoenherr said he believes the unique design and amenities of the 11th & Idaho Building will attract companies, and Monday’s formal groundbreaking will help market the building to both local and out-of-market tenants.
“We’ve got an in-house broker’s team that’s been making lots of presentations to other brokerage firms, so everyone’s pretty well aware of the project,” he said.