Goodbye Hole. Hello Bank.
The days are numbered for Boise’s infamous hole in the ground. Monday representatives from Utah based Zions Bank and Utah/Idaho real estate developer the Gardner Company, stood in front of the hole on 8th and Main to lay out their plan. Developer Kem Gardner heaped praises on Zion’s CEO.
Kem Gardner “And he says there will never be confidence in downtown Boise as long as that hole exists. And told me you go look at that hole and see if we can’t put something together. But today is truly Zions Bank day as they announce the Idaho headquarters for Zions Bank and announce this 15 story building that they will anchor.”
Garner will start work on Zions’ Idaho headquarters this spring and expect to finish in 2014. It’s a 60 million dollar project. Most of Boise’s city government walked the block from city hall for the announcement. That includes Mayor David Bieter. Bieter spoke enthusiastically about finally seeing the end of the hole in the ground and had an announcement of his own.
David Bieter “For months we’ve been working on a project to defer impact fees, to defer the fees that Boise charges. The first project we can offer it to is this project, for the next six months any commercial project that comes to us we’ll defer those fees to the end, until you get some tenants going.”
Bieter says building this 15 story building on top of the decade old hole is proof that Boise’s economy is recovering. The site on 8th and Main has been vacant since 1987 when the historic Eastman building burned down. It has been a hole filled with rebar since the failed Boise Towers project in 2001.