Watercooler Apartments
Redevelopment

On January 9, 2015, CCDC issued a Request for Qualification/Proposals (RFQ/P) inviting development teams to submit proposals regarding the CCDC-owned property located at 1401 W. Idaho Street in Boise. Two proposals were received on the due date, March 4, 2015.

A panel of representatives comprised of CCDC staff, members of the CCDC Board, and Boise City Planning & Development staff was formed to review the RFQ/P submittals and interview respondents. The RFQ/Ps were evaluated on ten project priorities including: Strong financing, Quick Construction, Pedestrian Friendly Design, Urban Context, Active Mixed Use, High Floor to Area Ratio, Sustainability, Investment, Catalyst Potential.

The panel convened on three separate occasions between March 30th and April 8th to discuss and evaluate the proposals based on the RFQ/P priorities. The CCDC Board of Commissioners selected Local Construct proposal on May 18th. In June, an Exclusive Right to Negotiate (ERN) was finalized with the company. Per the ERN, CCDC staff and the developer refined and approved the design and scope of the project. The final Disposition and Development Agreement was approved by CCDC, and both parties hope to close on the property in summer 2016. After closing, construction will begin shortly thereafter.

Local Construct plans to build a 3 floor apartment building with 37 apartments including 7 Live/work units as well as 1,450 square feet of corner retail space. The plan also includes a pocket park for public use. Total development costs are anticipated to be $7 million.

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