New developments cropping up around Boise

BOISE -- The recession hit the Treasure Valley hard, and some new developments were put on hold for several years.

Now, some of those projects are finally coming back, and several new buildings are under construction. Some are calling it a resurgence in real estate.

Off South Vista Avenue near the Boise Depot are the new Depot Lofts.

It's been well-accepted both by the neighborhood as well as in the market, said Doug Bolen with Real Estate Management Solutions. We've got about 80 percent of them reserved today.

The new complex has 24 one-bedroom and two-bedroom units.

I think at one point in time, it was going the other way, Bolen said. Meridian and all the other surrounding communities were growing, but it's kind of changed pace. The downtown periphery, and especially the Bench, are very popular now.

Tenants will move in later this month.

Off East Front Street and West Parkcenter Boulevard is The 951, which is described as modern urban apartments. Floor plans range from $850 a month for a one bedroom, to $1,475 for the live/work design.

Apartments specifically geared toward Boise State students are going in near Ann Morrison Park, across from campus.

I think it says a lot about the owner's faith, and the local economy's faith in the future, and kind of what's going on in a lot of different places in the Treasure Valley. And it seems to be good news, and that's nice after the last five years that we've had, said Michael Simmonds, a principle at ZGA.

Simmonds told KTVB the student population at Boise State drives housing needs in Boise quite a bit.

They've increased their residential student body significantly, and the need for that has grown quite a bit, and is continuing to grow as they increase enrollment and they develop their curriculum in a lot more areas, and it's a pretty significant increase, Simmonds said.

Petra is working on a place for the elderly, a retirement community out near Harris Ranch called The Terraces of Boise, which is for the growing baby boomer population in Boise.

To view other development projects happening around Boise click here.


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