1401 W Idaho Street – Watercooler Live + Work
Located on a quiet street in Boise’s popular downtown, the Watercooler provides an inspiring environment to those wishing they had more options to live an urban lifestyle.Imagine living in a place where all your favorite local spots can be found on foot. Coffee at The District, live shows at Neurolux, and dinner at The Modern – all within 5 blocks. Ditch your car and dust off your bike because you’re only 10 minutes from connecting to Boise’s wealth of trails and green spaces. The Green Belt, Julia Davis Park, Hulls Gulch and Camel’s Back trail (and much more) are all within 2 miles.
In January 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 30 and April 8 to discuss and evaluate the proposals based on the RFQ/P priorities. The CCDC Board of Commissioners selected Local Construct proposal on May 18. In June 2015, 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 closed on the property in summer 2016. After closing, construction will began shortly thereafter.
Local Construct completed a 3 floor apartment building with 37 apartments including 7 Live/Work units as well as 1,450 square feet of corner retail space. Community Features include bike storage, an onsite ‘parklet’, fitness center, and a pocket park for public use. The Txikiteo Restaurant is a gathering place connected to the Watercooler Apartments. Total development costs were approximately $7 million.
CCDC Real Estate Development Manager, Shellan Rodriguez, oversaw this project.
Click here for more information on the Watercooler Apartments.
