Block 68 Catalytic Redevelopment Project

UPDATE: On August 19, 2021 the Block 68 RFP closed. CCDC received three responsive proposals. Information relating to each of the three proposals can be accessed through the following links:

Edlen & Co., et. al

 

Green Street Real Estate Ventures

PEG Development


Background:
The Block 68 Catalytic Redevelopment Project RFP (“Block 68 RFP”) seeks to develop housing that fills gaps unmet by the private market. The RFP offers two agency-owned properties, participation with public infrastructure improvements, and a ParkBOI parking and mobility structure. In exchange for these offerings, the Block 68 RFP expects proposals to embrace density and reinvestment in the City’s existing infrastructure and service area. It expects proposals to develop more affordable housing units, maintain the authentic neighborhood fabric, further mobility initiatives, and contribute to Boise’s long-term sustainability. Additionally, the RFP seeks proposals of high architectural aspirations with visionary and creative development programs that include or catalyze further development of nearby underutilized land.  Included in the RFP are Minimum Expectations that are practical and achievable yet will further Boise’s high livability standards. Proposals that far exceed the RFP’s Minimum Expectations are strongly encouraged and will receive favorable review.

The Block 68 RFP will evaluate proposals based on five priorities: Grow Our Housing, Mobility, Urban Development and Architectural Design, Economic Development, and Sustainability. Proposals will be evaluated on how well they:

  • Develop housing that fills gaps unmet by the private market and expand the opportunity for our active workforce to achieve housing for themselves and their families.
  • Make it easier to bus, bike, and walk because our residents must be able to connect to opportunities when and where they exist.
  • Elevate the architecture of Boise’s urban fabric, because an exceptionally built environment enhances quality of life and strengthens our community’s identity.
  • Provide economically diverse housing opportunities to Boise’s active workforce within the regional employment center to expand opportunity in Boise’s local economy, reduce demands on transportation infrastructure, and further the City’s long-term sustainability.
  • Mitigate climate impacts and innovate around the creation of a robust climate economy.

The CCDC Participation Program will govern the Block 68 Catalytic Redevelopment Project as a Type 5 participation and disposition of CCDC-owned property through a competitive disposition process in accordance with Idaho Code § 50-2011 for disposition of public property.  Other CCDC Participation Program agreements may be incorporated for possible acquisition of public parking in a parking and mobility structure and public infrastructure improvements.

Fiscal Notes:
This RFP offers several public/private partnership opportunities: development of Agency owned property, public infrastructure improvements, and a ParkBOI parking and mobility structure.  As part of the Block 68 RFP, CCDC is offering the opportunity to redevelop two Agency owned parcels: 1010 W. Jefferson Street and 421 N. 10th Street.  The property disposition process requires a commercial appraisal and a re-use appraisal on the Agency-owned properties, which are collectively appraised at approximately $7.5 million. Additionally, the Agency can assist development projects with reimbursement for improvements that are dedicated to and for the benefit of the public through the Agency’s Type 2 Participation Program. Furthermore, up to $10 million is available to partner in a parking and mobility structure. In total, the Agency is targeting no less than a 6:1 private to public investment ratio.

Resources:

CCDC Project Manager, Brady Shinn, is overseeing this project.