620 S. 9th Street - The Afton Condominiums
A unique tool that CCDC can use to promote redevelopment is the strategic acquisition of land and buildings for disposition that targets specified uses. CCDC’s property disposition process involves an open competitive request for proposals/qualifications (RFP/Q) process in which private companies or nonprofit organizations can submit a proposal for the property based on objectives outlined by CCDC.
In 2015, CCDC was able to take advantage of this strategy when it conveyed ownership of a portion of its property located at 8th and River Streets in August. This property is located in a key location that connects downtown Boise to the Boise River and Greenbelt and areas south of the river like the BSU campus. After a long process and careful review of many proposals from in and out of the market, CCDC awarded the Exclusive Right to Negotiate to regional developer Michael Hormaechea, of RMH Company to develop a mixed-use project with a focus on for-sale housing.
RMH Company, a Boise firm, has planned the project in two phases and will build condos and retail space on the property. The project has been named The Afton after an original landowner Emory Afton, president of Wholesale Electric Parts Company. The first phase of The Afton will be comprised of approximately 28 for-sale units including 3 live/work units with 1st floor retail space. There will also be approximately 3,000 SF of retail space on corner of 8th and River.
CCDC’s proactive effort to create a new, attractive, and energizing residential development to this neighborhood will pay off soon. Construction began in October 2015, and is scheduled to be complete in late summer 2016. This particular corner has been overlooked for years, and will now come to life, offering Boise residents a new and exciting downtown housing option.
CCDC Real Estate Manager, Shellan Rodriguez, is overseeing this project.