A new stadium proposed for the outskirts of downtown Boise is gaining momentum; developers say the project could generate $200 million-worth of growth in the area.
The tentative deal between developer Greenstone Properties and St. Luke’s Health System would transform 11 acres around Americana Boulevard and Shoreline Drive into a venue that would house Boise’s minor league baseball team, the Hawks, and service other local sports.
Four acres would be set aside for the stadium, while the remaining 7 acres would be used for residential, office and parking space.
The Statesman had been reporting the project would spur $60 million in private development, but a release from Greenstone estimates that figure could be around $200 million.
Should the stadium be constructed, the area around it would be designated an urban renewal district. That would allow for a favorable tax structure that would pour money back into the area and entice outside funding.
The $60 million in development is the minimum needed to pay loans taken out by the renewal district to help spur growth. Greenstone thinks private investment in the area around the stadium will be substantially higher.
While the land deal is a big step forward for the project, the venture still needs to get support from local public agencies.
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