Pennbridge Lodging/The Richardson Design Partnership, LLC.
In late 2014, Boise city officials announced a sweeping redevelopment
plan for the Central Addition neighborhood, defined by Front and Myrtle streets to the north and south, and Capitol Boulevard and Broadway Avenue from east to west. Rebranded as a so-called LIV district ("lasting, innovative, vibrant"), the area is slated for construction of "dense urban housing" and the introduction of mixed-use developments incorporating retail and office
Add to that a proposed 10-story, 180-room hotel.
Fronted by Eagle-based hotel investment company Pennbridge Capital
, the hotel is planned for the corner of Capitol Boulevard and Broad Street, where Dunkley Music is currently located.
fans need not worry, though. Owner Mark Dunkley, whose father founded the business in a storefront kitty-corner from the Egyptian Theatre in 1950, said the development is "a good opportunity for everyone involved."
"Down the road we'll be moving," Dunkley told Boise Weekly
. "We have made an agreement with them to move forward and at this point I've got three or four different locations farther west that would work pretty well for us; that will locate us a little more central in the valley."
Dunkley Music moved to its current location in 1961, ultimately growing to its present size after purchasing the R.C. Cola bottling plant in 1974. But 54 years in the same spot is starting to present some growing pains as business continues to thrive and parking becomes more scarce.
"I think it's a valuable use of that property," Dunkley said.
According to data from the Ada County Assessor, the property at 410 S. Capitol Blvd. was valued at more than $1.2 million in 2014 with taxes of $20,964.
The hotel name has not been announced pending final franchise approval, but a news release from Pennbridge stated that it would be "premier." The company's most recent hotel developments, which include properties in Twin Falls and Utah, have primarily been Marriott brands but also include Hilton, Hyatt and Holiday Inn Express.
Pennbridge Principal Jared Smith told Boise Weekly
that as Boise was hit particularly hard by the economic downturn that began in 2007, hotel supply has not kept pace with the recovery. Despite the presence of several hotels in downtown Boise—including Hampton Inn, The Grove Hotel, Hotel 43, Safari Inn and The Modern Hotel within blocks of the proposed development—demand continues to go unmet.
"We are extremely excited to bring a very recognizable high-quality hotel offering to one of the busiest corners in all of Boise; not to mention the personal significance as Boise is my hometown," Smith stated in the release.
Every room in the Pennbridge hotel is designed as a suite with fully equipped kitchens and separate living and sleeping areas. With ready access to the downtown core and BODO, the hotel will also host both short- and long-term guests.
"Our marquis location and brand choice will make the hotel a valued holding for decades to come," he stated.