ECONOMIC DEVELOPMENT
The Gibson

The Gibson construction fall 2018

The Gibson is a new apartment building, located on the corner of 5th & Idaho in the River-Myrtle/Old Boie Urban Renewal District. It is a $13 million mixed-use project that includes approximately 79 apartments, 80 subterranean and ground level parking spaces, 3,000 square feet of retail, and a 3,600 square foot public park. The project is being developed by GGLO Architects and is quickly leasing up.

In spring 2016, the CCDC Board of Commissioners approved the Type 4 Public Private Partnership Participation Agreement for public improvements. Specifically, the agreement included up to $790,000 for construction and easement of a public park and under-grounding of overhead utilities along 5th Street and in the eastern portion of the alley between 5th and 6th Street, immediately adjacent to the development. Additionally, the Board approved a separate T1 Agreement for under-grounding utilities in the alley behind the Paulsen Building, immediately to the west of this development.

The 5th & Idaho project broke ground in June 2017 and the contractor has completed under-grounding the utility lines in the alley between 5th & 6th, and along 5th street from Main Street to the alley between Idaho and Bannock. CCDC has reimbursed the developer for $260,000 to underground the utility lines located in the right-of-way. The remainder of the Type 4 agreement ($790,000) and Type 2 Agreement ($260,00) reimbursed at project completion for the public  park and streetscape improvements.

 

 

CCDC Project Manager, Shellan Rodriguez, is overseeing the 5th & Idaho Apartment project.

For information, please visit the Gibson Fifth and Idaho website.

 

 

 

 

 


PROJECT ELEMENTS