900 Rental Units Approved for 44-Acre Development in Boise

900 rental units will be developed on a vacant 44-acre site in Boise, according to an article by Margaret Carmel for BoiseDev.

“Boise City Council gave the thumbs up to Ohio-based developer Welltower on its plan to develop the eastern end of the Simunich property along Victory Road, south of the Vista neighborhood near the New York Canal. The plan calls for a five-story apartment building in the dead center of the 44-acre site with buildings stepping down toward single-story buildings on the edges of the project. All of the units will be for rent, not for purchase,” reports Carmel.

The development created concerns about traffic and views among local stakeholders, led by the Vista Neighborhood Association. The project earned unanimous support from the Boise City Council despite the local opposition. City Council President Pro Tem Jimmy Hallyburton is quoted in the article saying the city had to take advantage of an opportunity to develop as much housing as possible.

The Boise real estate market exploded during the pandemic after years of rapid growth, before home prices finally slowed down at the end of 2022. This rental housing development would indicate that the market still has plenty of latent demand.