Since its launch three years ago, a Boise program to encourage construction of downtown residential development has subsidized almost all upscale development, writes Idaho Press reporter Margaret Carmel. Among the developments that have benefited: The Afton luxury condominiums, the Fowler building, and the Fifth and Idaho apartments.
In 2015, Boise funded the housing incentive program with the goal of encouraging the development of 1,000 residential units downtown by 2020. The program allows qualified projects to receive $1,000 per unit and an additional $1,000 for affordable housing units. So far, the city has paid out $632,000 in incentives on seven projects. Only Adare Manor in the West End, a collaboration between the city and several other agencies, qualified for the affordable housing part of the incentive package. You can read Carmel’s full report here at idahopress.com (subscription required), or pick up today’s Sunday/Monday edition of the Idaho Press.