New housing and commercial development coming to Idaho FallsPublished at | Updated at
IDAHO FALLS – A housing and commercial development is in the initial stages in Idaho Falls.
Bracken Atkinson with The Wasatch Group based in Logan, Utah tells EastIdahoNews.com the company recently acquired a 60-acre parcel of land on the south side of Home Depot in Idaho Falls between Holmes Avenue and East 25th Street.
The development will happen in phases over the next several years and Atkinson is hoping they can break ground on the housing project next year.
“Right now, we’re in the early stages of determining how to mix the (housing and commercial usage together). If we can get our planning and architecture done and everything goes smoothly, we could break ground on our first phase sometime next summer,” Atkinson says.
The type of housing and the number of units hasn’t yet been determined and there’s no way to tell who the commercial tenants will be until there is space available.
Atkinson says the first big development push will include connecting Jennie Lee Drive to East 25th Street.
“It ends right by (Club Apple). Through our project, it will have a branch that connects into that cul de sac where it dead-ends right now,” says Atkinson.
The jurisdiction of the property is something that needs to be cleared up before development can begin. Atkinson says it is currently part of Bonneville County limits and he and his team are trying to get it annexed into the city. He estimates this process taking anywhere from three to six months.
The influx of people in Idaho Falls over the last several years has created a huge demand for more housing and Wasatch Property Management, which manages 70 apartment communities in five different states, wanted to fill that need.
“This will be the first multi-family and commercial project for Wasatch in the Idaho market and we couldn’t be more proud to bring our dedication to quality and community, known as The Wasatch Way, to Idaho Falls,” Wasatch Acquisitions and Capital President Jarom Johnson says in a news release.
Atkinson says the property’s close proximity to other amenities made it an appealing spot.
“Downtown is very easy to get to and two or three highway access (points) are easy to get to. I really like the fact that we have a blend of housing in that area. The commercial space with Club Apple right next door is another big plus,” he says. “It just has a really amazing feel to where it’s located and how it’s connected to the surrounding areas.”
This project is an exciting prospect for the neighborhood and the city, Atkinson says, and the sales tax and infrastructure increase will be an enormous benefit.
He’s excited to see how people react as the project continues to unfold.
“We’re excited to be in Idaho Falls and look forward to a good relationship for the next 20 to 30 years,” he says.
The Wasatch Company worked with Randy Waters at SVN High Desert/Century 21 High Desert in purchasing the property.