ECONOMIC DEVELOPMENT
5TH AND IDAHO APARTMENTS
The 5th and Idaho Apartments is $13 million mixed use project that includes approximately 79 apartments, 80 subterranean and ground level parking spaces, a 3,000 SF retail space, and a 3,600 SF public park. The project is being developed by Clay Carley, Tim Gibson, Dean Pape and Peter Oliver. Architects GGLO designed the project and it was approved for permanent HUD financing.
The CCDC Board of Commissioners approved a Type 4 and Type 2 Participation Agreement, which includes the cost of the public park (land and improvements), streetscapes, alley improvements and under grounding of utilities. The Participation Agreements were approved in May 2016.
CCDC Project Manager, Shellan Rodriguez, is overseeing the 5th & Idaho Apartment project. The 5th & Idaho project broke ground in June 2017 and the contractor has completed undergrounding the utility lines in the alley between 5th & 6th, and along 5th street from Main Street to the alley between Idaho and Bannock. CCDC has reimbursed the developer for $260,000 to underground the utility lines located in the right-of-way. The remainder of the Type 4 agreement ($790,000) and Type 2 Agreement ($260,00) will be paid out at project completion for the public park and streetscape improvements.
Source: http://www.ccdcboise.com/ccdc-projects/5th-idaho-apartments/
11/16/17