The latest proposed developments, other construction projects and new businesses around Idaho’s Treasure Valley:
An apartment building proposed by Boise developer David Wali is progressing through planning stages.
the 91-unit building is planned at 818 W. Ann Morrison Park Drive near Boise State University. Named Capitol Student Housing, the building would include parking under four floors of two-, three-, and four-bedroom units.
A design review hearing is scheduled for Wednesday, March 9 at 6 p.m. at City Hall.
Cedar and Sage Homes, an Eagle company, is proposing to build a 48-unit building which includes 16 studios, 16 one-bedroom apartments and 16 two-bedroom apartments.
The building, which is expected to go through a design review hearing next, is at 5122 W. State St.
A developer represented by Kyle Sales of Beegawk LLC offered two apartment buildings with 36 units at 2408 S. Broadway Ave., just west of Ivywild Park.
The application filed with the City of Boise is for a planned unit development. The project is called the Veazey Park Apartments.
A affordable apartment complex on the Banc de Boise advance.
The 112 units are intended for people earning up to 60% of the region’s median income, depending on the application. There are plans for 48 one-bedroom units, 40 two-bedroom units, and 24 three-bedroom units. J Fisher Cos., a Centerville, Utah company, is the developer.
The resort at 5522 W. Franklin Road is scheduled for a design review hearing on March 9.
Hubble Homes plans to build a Subdivision of 40 houses near the northwest corner of West Lake Hazel and South Five Mile Roads.
The 3.2 acres off West Goldenspire Drive are in unincorporated Ada County, outside the city limits of Boise, according to the application. The subdivision would have 44 lots in total, including three common lots and a common driveway.
Emily Baun, who works for Idahome Living Real Estate, proposes to build 37 townhouses at 6776 E. Warm Springs Ave. in southeast Boise.
The company requested a neighborhood meeting list, one of the first steps required before potential annexation and rezoning of the property.
The Southern Idaho Corp. of Seventh-day Adventists plans to build an 11,296 square foot building community Center at the Cloverdale Seventh-day Adventist Church site at 1115 N. Cloverdale Road in West Boise.
A permit has been approved for contractors to excavate, grade and compact the site. Another permit is required to construct the new building.
The permit was first reported by BuildZoom.
Chase Craig, a developer with Boise Basin Development LLC, has asked the town of Kuna to annex 51.6 acres for future development.
The plots include farmland and a residence at 5055 E. Kuna Road.
At a Planning and Zoning Commission hearing, Craig said the application was only for annexation, but that development would occur in the future and connect to city services.
Craig mentioned Kuna’s need for affordable housing, “since the current median home price was over $400,000.”
Ageless Men’s Health LLC, a medical clinic company, has leased 2,427 square feet of retail space at 1545 E. Iron Eagle Drive, Suite 101, Collliers reports.
Sales and prices of treasure valley land sold for development are on the rise. National real estate developers entering the Boise-area market skyrocketed sales of land in Treasure Valley for residential development last year, according to a Boise commercial real estate agency.
The entry of builders such as Lennar and KB Homes helped sell more than 4,500 acres for residential development, up 62% from 2020, reports TOK Commercial. The dollar value reached $300 million, more than double the 2020 total. That’s about $67,000 per acre.
“Residential land is expected to remain in high demand, but increased eligibility risk and municipal policies on residential growth will pose ongoing challenges for developers,” the report said. A right is a set of local government approvals needed to develop a property.
Builders set a record by applying for 7,500 permits last year for new homes, TOK said. Their combined value totaled more than $2 billion. That’s about $267,000 per house.
It was also a big year for industrial land, with nearly 600 acres sold for a total of $72 million, mostly in Canyon County, TOK said.
This story was originally published March 3, 2022 04:00.