Boise Development Thread - Part II

[Sawtooth]

Originally Posted by Evo5Boise

That crane is pretty tall. I've been trying to eye it with buildings around it to see if that is going to cover the building's 290 feet, or, if the crane will have to move up a tad as the building comes out of the ground.

It may need to be jacked up a bit as the building progresses.

[Sawtooth]

It's great seeing infill like this popping up around town in more residential neighborhoods. More please!
https://tripledotdev.com/the-theodore/


by Sean, on Flickr


by Sean, on Flickr


by Sean, on Flickr


by Sean, on Flickr


by Sean, on Flickr

[Cottonwood]

https://simpson.house.gov/news/docum...umentID=399875

Simpson Secures Funding for Downtown Boise YMCA Catalytic Development Project in FY23 Omnibus
Washington, March 8, 2023

The $4 million in funding is designated to redevelop 2.5 city blocks located between State St/Jefferson St and 10th St/12th St in Boise with a new YMCA facility.

https://ccdcboise.com/wp-content/upl...8-1024x541.jpg


https://ccdcboise.com/wp-content/upl...-69-scaled.jpg





https://ccdcboise.com/ccdc-projects/...pment-project/



https://ccdcboise.com/ccdc-and-treas...land-exchange/

This is all part of a bold plan to redevelop multiple blocks in the agency’s Westside District, according to Brunelle. Located on two and a half blocks south of State Street between 10th and 12th streets, the Block 68 Catalytic Redevelopment project is slated to become one of CCDC’s largest projects. Click here to see a detailed report. Along with the new YMCA, Block 68 is slated to include a 20-story mixed-use building with a mobility hub, including a ParkBOI public parking garage with 158 parking spaces. The mobility hub will also support 131 stalls for the YMCA and 180 parking spots for residential tenants. The 12 floors above the mobility hub will be rentals, including 230 market-rate residential units–the first significant mix of parking and rentals of its kind in Boise.

Block 69 will feature a six-story building with 220 apartments with plans for including mixed-income units. The ground floor will include retail at the corners along State Street and both 11th and 12th streets, 45 additional parking spaces accessed from the alley, and a residential lobby.

[Cottonwood]

A ‘cool and hip’ new movie theater opens soon in downtown Boise. You can have a beer
Read more at: https://www.idahostatesman.com/enter...#storylink=cpy

“The recent revitalization of Boise’s downtown has been exceptional,” James Howard, executive director of Cinema West, said in a media release, “and we are thrilled to be a part of it, alongside The Warehouse Food Hall, by adding an equally cool and hip movie theater to the whole mix.

BoDo Cinema’s auditoriums all feature laser projection. The two largest rooms include Cinema West’s proprietary Giant Screen technology and Dolby Atmos sound. All the auditoriums will be filled with luxury electric recliners. Most also will offer chaise loungers for two. A previous plan to add a couple of smaller rooms for VIP screenings was scrapped, Howard said.

[Boisebro]

a few quick shots I took from the 11th floor of the Banner Bank building:

[Cottonwood]

Thanks Boisebro.

Has anyone heard any rumblings of when the Ovation apartment tower will break ground? The most recent info I found online shows this Spring/Early Summer. The developer is from Wisconsin and Wisconsin developers are on a roll currently in Boise.

Here's a link to the most recent local update:

https://boisedev.com/news/2022/09/13/the-ovation-boise/

[Boisebro]

the last i heard, the revised 23-floor version was presented to the city and approved last fall (and even praised for being a better design). but nothing had been filed at the time for demolition of the current structures on the property.

i haven't heard anything since then, but am hoping it gets underway soon.

[Evo5Boise]

Nice shots Boisebro. Love the density that Boise is starting to collect. Keep it coming developers.

[Cottonwood]

Boise Market Report

https://www.nmrk.com/insights/market...-market-report

Additionally, the Boise office market vacancy rate is one of the lowest in the nation, where the national average sits at 17.9% for the fourth quarter of 2022.

Vacancy Rate (%) 4.6%

Boise is the third largest metro in the Northwest and came in as the sixth fastest population growth from 2010-2019 for the nation. What a labor participation rate 4.7% higher than the national rate, the metro recovered well from the COVID-19 economic disruption and sits at a 2.7% unemployment rate as of August 2022.

BOISE MARKETBEAT REPORTS
1/18/2023
https://www.cushmanwakefield.com/en/...se-marketbeats

ECONOMY: #1 Population Growth
The Boise and Treasure Valley continued to have a strong fourth quarter in 2022. Boise once again was ranked #1 in annual
population growth nationwide at 2.9% with a forecast increase, with Austin and Fort Myers/Naples following at a distant (2.1%). The
Boise economy expanded at a rate of 2.3% year-over-year (YOY), an increase of 8,700 jobs. The median household income for
Boise climbed to $76,100 YOY, with a forecast increase. Boise unemployment fell 30 basis points (bps) YOY and is tied for the 8th lowest unemployment rate overall. For comparison, the U.S. showed 0.5% population growth, $71,700 household income, and 3.7% unemployment. Many industries, from restaurants to construction, continued to have difficulty finding workers, which affected service and delivery times in all sectors.

SUPPLY & DEMAND: Class A Construction Dominates
While the return-to-office has been measured as employers continue to evaluate in-person work, office demand has remained active
in 2022 when tenants inked deals totaling over 1.1 million square feet (msf), up 25.7% compared to 2021. Overall vacancy increased
in Q4 to 8.8%, up 76 bps quarter-over-quarter (QOQ) and 296 bps YOY. This compares very favorably with the majority of markets
and well below the national vacancy rate of 18.2%. Available square feet (sf) increased in Q4 and jumped over 500,000 sf YOY.
Available sublease space has steadily increased and nearly quadrupled YOY, with larger spaces available in West Boise, Boise
Central Business District (CBD), Meridian, and Eagle. Class B buildings continue to comprise the most space available in the market.
Leasing activity in Class A and B properties experienced approximately half a million sf of direct leasing each year-to-date. Tenant
demand continued to soften, with leasing activity in Q4 dipping 65,000 sf and over 400,000 sf from Q2. The low number of new spec
projects that have broken ground has aided in keeping overall vacancy in check and helped facilitate positive absorption in Q4 after
three straight quarters of negative absorption. The strong demand for new Class A space has continued, with new construction
showing 100% occupancy. In Meridian, nearly 300,000 sf in two Class A projects will be home to Power Engineers and Engineered
Structures, Inc. (ESI). The strong lease-up in recent deliveries may indicate a decrease in availability and vacancy in the new year.
Small office lots available for build-to-suits have been in high demand. Office requirements for 20,000 plus sf have been difficult to fill,
and 50,000 plus sf has necessitated searching for strictly build-to-suit options.

[Sawtooth]

cinema by Sean, on Flickr


enter by Sean, on Flickr


TreeFort Music Hall by Sean, on Flickr

[Sawtooth]

by Sean, on Flickr


by Sean, on Flickr


by Sean, on Flickr


by Sean, on Flickr


by Sean, on Flickr

[trails]

Nice pics Sawtooth.. you got right in the thick of it!

Separately - anyone have an update on the Boardwalk tower? Was biking by on the Greenbelt and it looks like a surface parking lot now!

[Evo5Boise]

Saw BoiseDev recently reported on that possible 40 story tower in Boise (that has been mentioned here before). I saw on the report that they updated it:

"Update: Since the publication of this story, the portfolio has been removed."

Bummer! I wonder if it's not as much of a plan as we all hoped, or they're trying to keep it under wraps? Would be a cool project.

[Hot_Onions]

On GGLO, which is an architecture firm and who
the publisher of the portfolio works for still has 11th and front listed on their portfolio. It has never been updated with a page or any information beyond the name but at least the firm itself has it listed so there is still hope (for now).

[Sawtooth]

Originally Posted by trails

Nice pics Sawtooth.. you got right in the thick of it!

Separately - anyone have an update on the Boardwalk tower? Was biking by on the Greenbelt and it looks like a surface parking lot now!

Thanks trails!

I've wondered if the developers are waiting to finish the current buildings before beginning the tower. ?

[Cottonwood]

https://www.cityofboise.org/departme...ement-project/

Boise Parks and Recreation is holding an informational open house to share design and timeline details of the Peasley Street connection to Ann Morrison Park. Department staff will be available to answer questions.

The stairway will enhance bicycle and pedestrian access to Ann Morrison Park from the Boise Bench, improving access for more than 850 households. The improvement project aligns with the City of Boise’s goal of ensuring everyone has access to a park within a 10-minute walk of their home. The connection proposal was submitted as an Open Space and Clean Water improvement project by the Harry W. Morrison Foundation and was recommended for funding in February 2023.

https://cob.azureedge.net/cache/4/8/...1f6b226526.jpg

[Cottonwood]

https://www.spokanepublicradio.org/r...-olympia-boise

Regional News

"Mother-in-law apartments" gain favor in Olympia, Boise
Spokane Public Radio | By Doug Nadvornick
Published March 30, 2023 at 12:00 PM PDT

The Washington and Idaho legislatures advance proposals to make "accessory dwelling units" more common.

Legislators in Washington and Idaho are getting closer to allowing more types of so-called “accessory dwelling units.” The goal is to create more affordable housing.

In Boise on Wednesday, the Idaho Senate voted to allow homeowners to create apartments in their homes for relatives or renting to tenants.

[Sawtooth]

Hopefully with this growth we can keep our incredible backyard Wilderness protected.

The 25 Fastest-Growing Places in the U.S.
These metro areas are attracting new residents at a rapid pace.

https://realestate.usnews.com/real-e...aces-in-the-us

Les Bois is #5

Boise is a recreationalist's paradise. If you value the outdoors and time spent among rivers, mountains, canyons, deserts and lakes – and all the activities encapsulated therein – it's worth a serious look.

Idaho's capital sits squarely on the boundary of urban and rural, civilized and wild, refined and raw. Yes, there are wilder places. Yes, there are more urbane places. But Boise is a good place to live if you enjoy easy access to both.

[TVurban]

Two big new developments for the Downtown area.

CWI Boise Campus

CWI announced they selected a team to build out their Boise Campus and showed some imagery for it. Boisedev had the first article:
https://boisedev.com/news/2023/04/06/cwi-boise-bva/

The campus is proposed to have two educational buildings, a parking structure, large park, 3 multi-family buildings and maybe a performing arts center. It's also anchored by a large park along the river. These are just the early designs and will likely change as the project progresses

YMCA

The new YMCA has put in for design review and has renderings. It's a new 101,600 sqft facility located across the street from the current. This was part of the proposal Block 68 redevelopment from a CCDC RFQ. Not as grand of a design as in the proposal, but that's not shocking. It will be 4 floors with a basement. Parking will be in an adjacent building.

Permit:
https://permits.cityofboise.org/citi...howInspection=

Renderings:




Design in the RFQ, from the proposal:


Sidenote, the RFQ design is just to sell the vision. Projects always change from selling images to buildable designs.

[Evo5Boise]

Wow!! I'm a big fan of the CWI campus rendering. Would love to see that get built and inject some good appeal to that area.

The YMCA building, on the other hand, meh. Not a fan. Looks very bland. Hopefully, as you mentioned TVurban, that is just a preliminary design and is subject to change.