CCDC AND TREASURE VALLEY YMCA AGREE TO TERMS ON LAND EXCHANGE
July 12, 2022
The Board of Commissioners of Capital City Development Corp. (CCDC) approved the terms for a land exchange with the Treasure Valley YMCA at yesterday’s regularly scheduled monthly board meeting. The exchange is expected to occur in mid-2023 as part of an ambitious neighborhood transformation, including a new YMCA facility, in Downtown Boise. The YMCA Board of Directors approved the agreement during a meeting last week.
Under the agreement, the YMCA will receive 421 N. 10th Street, which is adjacent to existing YMCA property on the north half of Block 68. The combined properties are the planned site of a future new YMCA. CCDC will receive two parcels on Block 69 from the YMCA, 419 N. 11th Street and 1111 W. State Street. Those parcels will become part of a new residential building expected to fill the north half of the entire block. Because the YMCA properties appraised at a higher value, CCDC will provide additional funds to make up the difference.
“This is an important milestone in the effort to bring a substantial increase in housing options downtown and to assure Boise has first class social infrastructure for its citizens,” said John Brunelle, executive director of CCDC. “Kudos to the YMCA leadership for thinking big, collaborating with key partners, and aggressively pursuing its mission.”
CCDC acquired the property in 2017 shortly after the longtime owners had ceased retail operations and no longer needed the building. The business, Idaho Sporting Goods, was owned and operated for more than 60 years by the Brady family. Although the family divested from the neighborhood when it sold its property, they are happy with the most recent news.
“We’re really pleased it turned out this way,” said Pat Brady, spokesperson for the three generations of family members who are part of the sporting goods store legacy. According to Brady, the family has been long time members and supporters of the YMCA.
“It does help with the selling of the property and business to know its next use will involve the YMCA. It just makes it sweet.”
CCDC purchased the property at 421 N. 10th St. for $2.1 million. It was recently appraised at $3.125 million. The YMCA-owned parcels are valued at a total of $4.4 million. CCDC will provide $1.275 million in cash to complete the deal.
This is all part of a bold plan to redevelop multiple blocks in the agency’s Westside District, according to Brunelle. Located on two and a half blocks south of State Street between 10th and 12th streets, the Block 68 Catalytic Redevelopment project is slated to become one of CCDC’s largest projects. Click here to see a detailed report. Along with the new YMCA, Block 68 is slated to include a 20-story mixed-use building with a mobility hub, including a ParkBOI public parking garage with 158 parking spaces. The mobility hub will also support 131 stalls for the YMCA and 180 parking spots for residential tenants. The 12 floors above the mobility hub will be rentals, including 230 market-rate residential units–the first significant mix of parking and rentals of its kind in Boise.
Block 69 will feature a six-story building with 220 apartments with plans for including mixed-income units. The ground floor will include retail at the corners along State Street and both 11th and 12th streets, 45 additional parking spaces accessed from the alley, and a residential lobby.