Twin Falls welcomes Main Avenue Lofts, a high-density development 

Idaho’s raw beauty, friendly communities and potential for business growth are attracting people from all over the country. With continued growth on the horizon for cities around the state, high-density developments are becoming more common.  

Why high-density developments?
High-density developments are often developed from empty or abandoned buildings. They are renovated and repurposed into housing developments or as mixed-use developments that provide rental space for retail, housing and business use. There are arguably many benefits for cities adding more high-density developments. These types of projects can help revitalize cities and other urban areas that have vacant buildings needing a facelift. This not only attracts new businesses, adds jobs and provides housing for families and individuals, but it can also help increase property values in the area. Overall, this can create more vibrant cities that people want to be part of.  

Main Avenue Lofts

Recognized as the first large-scale, mixed-use building in downtown Twin Falls, Main Avenue Lofts is a strong example of a high-density development that is paving the way for continued city growth. Stakeholders cut the ribbon for the development in November 2022, officially opening the six-story building that features commercial office, living, retail and restaurant spaces. It is a 44-unit development with leases available now, and 4,500 square feet of retail space is available on the ground floor. The second floor offers 9,300 square feet of office space. The building, which was originally a department store that sat empty for quite some time, is situated across the street from City Hall on historic Main Avenue.    

The project was originally issued as a request for proposal (RFP) by Twin Falls Urban Renewal Agency and Galena Opportunity Fund stepped in to complete the development. According to a press release, construction of the Main Avenue Lofts was made possible through the New Markets Tax Credit (NMTC) program, a program that incentivizes investment directly benefiting economically underserved communities. 

“The most important element of the Main Avenue Lofts project is the addition of people downtown,” Bill Truax, president of Galena Opportunity Fund, said. “If we can get people closer to the other targeted areas in the city, the City and the Urban Renewal Agency can focus their efforts on leveraging investments into infrastructure that supports a more dynamic community. Without infill developments like these, property development will lean toward garden-style apartments further from city services and amenities. People will help sustain the local retail businesses that have chosen to make downtown their home and will have creative ideas about what else should become part of the downtown cultural fabric.” 

Travis Rothweiler, city manager for the city of Twin Falls, said that Main Avenue Lofts is the first building of its kind in the city, and it aligns perfectly with what the city had in mind when city officials began planning revitalization efforts for the area.  

“We reimagined the downtown area — from the lighting to the curbs, and a new street…the trees were overgrown around businesses; sidewalks were raised from the trees, and you really couldn’t see the buildings and characteristics of the downtown,” he explained.  

So, in 2016 and 2017, the city built a streetscape, added a fountain and community commons area with staging for concerts and other gatherings, and more. In total, the city spent about $18 million to help breathe new life into the area and in turn, businesses and people have started flocking to it.  

“Now, we have a fully functioning commons area, a robust downtown and lots of businesses are coming in and really serving as a vibrant community hub,” Rothweiler said. “We have housing and professional spaces that really complement some of the other things that are happening. Restaurants, small shops, boutiques and breweries all started to spring up, and we are trying to capitalize on that as we move forward.”  

The original Main Avenue Lofts building was in disrepair, but it had history and character. The city looked forward to how the building could be used not only functionally to create opportunities that didn’t exist — especially with housing — but also to reflect the unique culture of Twin Falls.   

“We asked ourselves how we could truly reinvigorate the downtown core of Twin Falls that is very appreciative of its heritage — not trying to transform it into something that it’s not, but instead preserve it,” Rothweiler explained. 

He continued saying that growth that builds up rather than spreads out was also an important part of the plan; it would allow for greater preservation of parts of the economy, while also providing amenities that people sought.  

“Many may not want to live in a traditional house or subdivision, so giving them some unique housing options helps with labor attraction, and it also helps with meeting a demand of a changing demographic,” he said. “If we can provide choices, then we can help meet demand but not cause urban sprawl. The wider a city gets, the more expensive it is to offer services.” 

Potential for more 

“This $15 million dollar investment into downtown is our second property investment into the Twin Falls city center and is already triggering our third and fourth property developments into the area,” Truax said. “The use of New Market Tax Credits, a highly sought-after financing structure, leveraged the investment of Mountain West Bank into a key community in Idaho. Mountain West is a continuing financial partner and often helps us in projects that have some level of affordability for residents or tenants.”  

The next high-density development planned for Twin Falls is located to the south and across the alley from the Main Avenue Lofts building. Construction has already begun and when complete, will include 96 apartment units, approximately 3,100 square feet of retail space and 325 parking stalls, 100 of those being public spaces.  

Seeing these types of additions to the cityscape helps put things in motion, setting a trajectory for a continued renaissance and enhanced growth well into the future.  

“This is probably the most fun I’ve had professionally,” said Rothweiler. “I think it’s a really exciting time in Twin Falls.” 

— Editor’s note: This article was originally published in the Jan. 20, 2023 edition of Square Feet.