Trapper's Island Project Adds Fuel to Condominium Boom
Jayo Construction Inc. has begun preliminary demolition work on a $75 million development that will add up to 106 new condominium units to downtown Boise.
The 10-acre Trapper's Island project will be built west of Americana Boulevard, abutting Kathryn Albertson Park, across the street from Ann Morrison Park and a short bike ride from Julia Davis Park.
Developer Doug Jayo said construction on the high-end condo units will begin this fall, with the completion date depending on how well the units sell.
Area development experts say the boom in downtown condominium construction is being fueled by aging baby boomers who are increasingly abandoning the suburbs for downtown living.
There were almost 300 condo units in the planning stages at the beginning of 2006, with most already under contract, according to an informal survey by the Idaho Statesman.
"I'm not pioneering downtown condos," Jayo said. "Everything that has already been built has been successful. And I think that proves that there is a need for this kind of project."
The development will consist of 19 three-story buildings. Each unit in a building will be allocated two spaces in an underground parking area. The units will range in size from 1,800 to to 2,600 square feet, and will be priced between $700,000 and $1.2 million.
Cory Riddle, interim chief review analyst with Boise's Planning and Development Services Department, said the project has received a conditional use permit to build residential housing in an area zoned for commercial use. Riddle said a hearing is scheduled next month on the request to modify the building plan to increase the number of condominiums to be built.
Jayo said he expects the project will be so popular that he has asked permission to expand the number of units from its original 85 to 106.
He said the project will not require flood insurance, despite its proximity to the Boise River, and it will sit 3 feet above the flood-level mark established by the Federal Emergency Management Agency.
Riddle confirmed that Boise Public Works has also determined the area where Trapper's Island will sit does not sit in the flood plain.
Marketing experts who will sell the units are counting on the proximity of the three area parks to give the luxury project a sense of neighborhood.
"It will be a place where the neighbors will be able to get to know each other," said John Holland, president of Holland Realty and marketing director for Trapper's Island.
Holland said the 272 acres of public park near the development represent an area almost one quarter the size of Central Park in New York.
The 10-acre Trapper's Island project will be built west of Americana Boulevard, abutting Kathryn Albertson Park, across the street from Ann Morrison Park and a short bike ride from Julia Davis Park.
Developer Doug Jayo said construction on the high-end condo units will begin this fall, with the completion date depending on how well the units sell.
Area development experts say the boom in downtown condominium construction is being fueled by aging baby boomers who are increasingly abandoning the suburbs for downtown living.
There were almost 300 condo units in the planning stages at the beginning of 2006, with most already under contract, according to an informal survey by the Idaho Statesman.
"I'm not pioneering downtown condos," Jayo said. "Everything that has already been built has been successful. And I think that proves that there is a need for this kind of project."
The development will consist of 19 three-story buildings. Each unit in a building will be allocated two spaces in an underground parking area. The units will range in size from 1,800 to to 2,600 square feet, and will be priced between $700,000 and $1.2 million.
Cory Riddle, interim chief review analyst with Boise's Planning and Development Services Department, said the project has received a conditional use permit to build residential housing in an area zoned for commercial use. Riddle said a hearing is scheduled next month on the request to modify the building plan to increase the number of condominiums to be built.
Jayo said he expects the project will be so popular that he has asked permission to expand the number of units from its original 85 to 106.
He said the project will not require flood insurance, despite its proximity to the Boise River, and it will sit 3 feet above the flood-level mark established by the Federal Emergency Management Agency.
Riddle confirmed that Boise Public Works has also determined the area where Trapper's Island will sit does not sit in the flood plain.
Marketing experts who will sell the units are counting on the proximity of the three area parks to give the luxury project a sense of neighborhood.
"It will be a place where the neighbors will be able to get to know each other," said John Holland, president of Holland Realty and marketing director for Trapper's Island.
Holland said the 272 acres of public park near the development represent an area almost one quarter the size of Central Park in New York.
posted by James Haft at 11:06 AM
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