Investment Highlights
- Premier Waterfront Setting: Situated on Silver Lake and the Boise River Greenbelt 10 minutes from downtown Boise, offering a rare combination of quiet, lakefront living and urban convenience.
- Compelling Value-Add: Approximately 70% of units remain in original condition, while prior upgrades were largely completed more than a decade ago.
- Limited Supply Pipeline: The Boise development pipeline has declined to a 10-year low, with roughly 1,150 units currently under construction in the whole MSA. This is a sharp reduction from peak 2022.
- Significant Local AI Investment: Micron's recently announced $50 billion Idaho expansion includes two new advanced memory fabrication facilities expected to generate approximately 17,000 jobs. Continued investment tied to AI-related semiconductor demand positions Boise for sustained economic and employment growth.
- Friendly Regulatory Environment: Boise maintains a balanced regulatory framework that allows owners to effectively operate assets and enforce lease provisions, offering a more predictable operating environment relative to many Western US markets.
- Strong Population Growth Fundamentals: Idaho remains among the fastest-growing states nationally, with Boise and the broader Treasure Valley serving as the primary beneficiaries of that trend. Recent projections indicate Idaho's population is expected to grow at approximately three times the national average over the next two years, with roughly 75% of recent growth driven by domestic in-migration.
Broker of Record
Adam Lewis
Senior Managing Director, Market Leader- Colorado/Idaho
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