Video: 15-Story Building to Rise From Boise Hole

Posted by George Prentice on Mon, Sep 19, 2011 at 1:41 PM

Boise Mayor Dave Bieter borrowed a quote from President Ronald Reagan this morning while referring to downtown's newest construction project.

"Tear down that wall," said Bieter, pointing to the billboards that have lined the corner of Eighth and Main streets. "And build this building."

Bieter was all smiles along with officials from the Gardner Company, owners of the site, and Zions Bank, which will move its Idaho headquarters into a new 15-story building at Eighth and Main.

Better known as "The Hole," the location hasn't seen any business since a fire destroyed the Eastman building in 1987. What followed were decades of endless promises of new construction, lawsuits and eventual bankruptcy. In July, the Gardner Company, which developed The Portico in Meridian, acquired the site from Capps Holdings, which had purchased the property in a foreclosure auction.

The new Eighth and Main building will include two stories of retail, three levels of parking (180 stalls) and the remaining floors for offices, including Zions' headquarters. The building's top floor will include a so-called "Founders Room" available to the public for meetings and receptions.

Bieter also announced that the city would defer impact fees to the developers until the first tenant has moved in. Bieter said the same incentive would be available over the next six months for "any new commercial project" that brings in a new development.

Construction for the LEED-certified building is expected to begin within six months.

Boise Mayor Dave Bieter
  • Boise Mayor Dave Bieter

Comments (3)

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Filling in the hole is fine as long as the developers are ok with less and less automobile traffic having access to that area of downtown... If we get our way, a big chunk of downtown will be off limits to cars.

Posted by Chuck Myntti on 09/19/2011 at 2:15 PM

The one question no one in the Boise Press is asking, is : Unlike the last debacle, does this project have a Completion Bond* in place?

Today, I asked that question of Councilman T.J. Thomson ("I don't know"), Mayor Beiter (Tapped danced around it, declaring that "the financing is in place), CCDC Interim Director Bunderson ("for the garage portion only") and CCDC Board Member Pat Shalz ("I don't Know" while giggling like a little girl).


* Completion Bonds were invented by the Romans and pre-date Christ. The Federal Government requires them as per the "Miller Act" and various States (including Idaho) via "Mini Millers."

And if you were to seek the advice of the Attorney general, BBB and / or other Consumer Advocates about having something built (i.e. a home or business), one of the FIRST things they'd advise you to do is to make sure that your General Contractor has a Completion Bond in place.

And yet, with this long and illustrious heritage, the CCDC feels no need to ask this of their building partners.

Posted by Mike Murphy on 09/19/2011 at 2:22 PM

@ Mike Murphy - Who would require the bond? The land is privately owned - CCDC and the City of Boise don't have a financial stake in this. I'm not privy to the details of the project, but aside from some infrastructure stuff that is city owned, and the parking garage that I assume CCDC is participating in, there isn't any way to require a developer do complete anything other than the stuff the public entities are involved in.

Posted by LGM1 on 09/19/2011 at 3:50 PM
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