Boise Set For New Economic Developments

Idaho's capitol city will see several economic developments in the coming months along with a possible property tax hike according to Boise Mayor Dave Bieter.  He unveiled these plans at his annual State of the City address Tuesday. 

Bieter devoted about 10 minutes of his 30 minute speech to highlight new projects.  A retirement community in East Boise topped the list.  The Terraces will offer 150 residences and health care services within a 13 acre campus.  Bieter said, "This is a $68 million project.  It will employ, when it’s finished, 150 employees."

Eighty-nine people have reserved space in the community so far, but two dozen more are needed to secure financing.  If that happens, ground will break this fall.   

The Boise Armory is also slated for renovation.  The art deco-style building once housed the Idaho National Guard but has stood vacant for years.  J and M Land Corporation will buy the city-owned property.   Bieter said, "What’s going to be in it is a little uncertain, but the fact that they’re going to renovate it is not."

Bieter also told the nearly 900 people at his annual speech that a Basque-based tech company called Anboto Group will be the newest tenant in the city’s business incubator.  He also expects the city to hike property taxes by 3% this year. 

Copyright 2012 Boise State Public Radio