Another condo building is going up in Downtown Boise.
Thirty-five new condominiums are under construction in a second building of The Afton, an upscale complex that opened its first, 28-unit building last year north of River Street near Boise’s main library. The new building is on the northeast corner of 9th and River streets just west of the existing building.
The five-story building will cost an estimated $1.3 million, according to construction documents filed with the city of Boise.
“We’re very pleased with the demand and the positive response to The Afton,” said the developer, Michael Hormaechea, of Boise. “Phase 1 sold as well or better than we projected, and our demand for Phase 2 looks to be strong.”
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Hormaechea said selling prices have not yet been set. A one-bedroom unit with 1,254 square feet in the first building was listed recently for sale at an asking price of $635,000.
The Afton occupies a lot that previously housed a food brokerage and a foundry for casting metal. Boise’s urban-renewal agency, the Capitol City Development Corp., bought it in 2001. The agency hoped to spur private development in an area that was underdeveloped but within walking distance of the library, the Boise River and Downtown.
Hormaechea’s project was selected over five competing proposals that included student housing, a hotel and apartments.
Most of the Phase 2 units will have two bedrooms and between 1,200 square feet and 2,000 square feet. Some will be three-bedroom units with about 1,800 square feet.
“Phase 2 has its own rooftop garden deck,” Hormaechea said. “It has its outdoor kitchen party deck. It has its own guest suite. It has its own lobby and its own bicycle and owner storage.”
Hormaechea said he’s looking for opportunities to build additional housing projects, though he has none planned.
“I’ve enjoyed this urban-infill housing, and I’m really optimistic about Boise,” he said.
The Phase 2 building will have a separate entrance at 620 S. 9th St. and its own indoor parking garage. It is scheduled to be completed in fall 2019.
John Sowell: 208-377-6423, @JohnWSowell