Economic Development Project Update: 505 W Idaho Street – 5th & Idaho Apartments
June 28, 2018
One of CCDC’s Key Strategies is Economic Development – Cultivate commerce and grow resilient, diversified, and prosperous local economies.
This is a $13 million mixed-use project that includes approximately 79 apartments and 80 subterranean and ground level parking spaces, a small retail space and a 3600 s.f. urban public park. The CCDC Board of Commissioners approved Type 4 and Type 2 Participation Agreements, which includes the cost of the public park (land and improvements), streetscapes, alley improvements and under-grounding of utilities. The Participation Agreements were approved in May 2016.
The project is under construction and is progressing on budget. First-floor structural framing is nearly complete and second-floor decking has begun. Construction is about two weeks behind schedule but making efforts to capture days where possible, with an adjusted completion date in mid- November. There are minor cost impacts to the budget but they are being managed with no impact to the project. ESI is continuing to look of opportunities to capture time as they work through the main structure of the building. Streetscape, alley, and park improvements are scheduled to start in late summer.
For more information, please visit the 5th and Idaho Apartments project page.