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Biz ‘Bite:’ New York firm finances Garden City Boardwalk development
IBR Staff//April 4, 2022
A New York real estate lender, ACRES Capital, announced on March 28 that it has financed the development of the Boardwalk Apartments in Garden City with a $67 million loan to Vida Properties, a Boise development company.
The Boardwalk is a market-rate mixed-use development which will have 234 residential units, 17,000 square feet of retail space and 312 parking stalls. The project is on property which borders the Greenbelt and the Boise River. Resident amenities will include a playground, pickleball courts, grills, fire pits and a planked boardwalk, which will front the Greenbelt.
Vida Properties broke ground on the complex in May 2021. The general contractor is Andersen Construction of Boise. The architectural firm is Erstad Architects of Boise. Construction is projected to be done in two phases, with completion estimates of 2022 and 2023 respectively.
