Restaurants, retailers and housing coming to new Rexburg development
Published at
Do you want to know what’s happening in the eastern Idaho business scene? We’ve got you covered. Here is a rundown of this week’s business news across the valley.
BIZ BUZZ
REXBURG
New mixed-use development in the works near Highway 20 in Rexburg
REXBURG – A mixed-use development is in the works on a 50-acre parcel near exit 333 (Main Street exit) in Rexburg.
Trellis Development is the owner of Madison Commons, which includes 38 acres of an open field parallel to U.S. Highway 20 near Main Street. Another 12 acres juts out to the west in the middle of the property.
Chief Executive Officer Bron Leatham tells EastIdahoNews.com the development will include about 250 units of medium density, multi-family housing, as well as some restaurant and office/retail space. A preliminary discussion is underway with the city of Rexburg about possibly adding a rec center. A new hotel may be coming as well.
Although the housing portion is confirmed, Leatham says many of the commercial tenants cannot be announced yet because plans are still being finalized. He did say construction on a national franchise restaurant will get underway this summer.
“There’ll be a new restaurant chain on the corner right off the exit,” Leatham says. “We anticipate it will be complete (by) the end of the year.”
Trellis Chief Development Officer Jake Thompson says it’s close to finalizing a deal, and announcements about the specific tenants will be forthcoming.
Phase one of the construction will add between $4 million to $5 million in site development. New roads and infrastructure to accommodate the restaurant will be added over the next several months.
Building the entire project is expected to last seven to 10 years.
Trellis bought the initial 38 acres in 2022 and recently acquired the other 12 acres. Leatham says the additional acreage was the “key piece” to help the project move forward.
“There’s an existing road called Firehole Drive that we’ll be connecting to 12th West,” says Leatham. “We’ll build a new road from Main Street all the way to about halfway through the property.”
The company is also adding a new sewer lift station to serve people outside of the Madison Commons project.
“The sewer improvements that we’re putting in will serve a total of about 120 acres of new development,” Leatham says.
This is one of multiple projects for Trellis. The company recently bought the property formerly occupied by Loft 745, a longtime wedding venue off County Line Road in Rigby.
A new business park off the Thornton exit, which Trellis also owns, provides space for dozens of companies.
RELATED | New commercial strip in Thornton home to dozens of businesses
It was involved in bringing Cafe Zupas to Rexburg, which is currently under construction at 792 University Boulevard in a standalone building between Chipotle and McDonald’s.
RELATED | Cafe Zupas among many new businesses coming to Rexburg
Trellis also owns another 14-acre parcel near the soon-to-be completed Teton River Temple in Rexburg. It’s a commercial development called White Owl Business Park. EastIdahoNews.com is planning to highlight this project in a future story.
RELATED | Hundreds attend groundbreaking of second Latter-day Saint temple in Rexburg
Thompson says a team of local investors are involved in Madison Commons, and he’s happy to see support from people who live in the community.
“We’re excited about bringing another mixed-use development to Rexburg to serve our growing community and to provide quality space for businesses who are looking to grow,” Leatham says.
IN CASE YOU MISSED IT…
The Neutral Zone; Rexburg ice rink grand opening planned for President’s Day
Bath & Body Works returns with more retailers on the way at new Pine Ridge open air shopping center
Owners of local gardening business step down after 42 years
I worked as a taxidermist for a day, and here’s what I learned
If you have a Biz Buzz item you want to share, send it to rett@eastidahonews.com. Remember to use 'Biz Buzz' in the subject line. Also, don't forget to sign up for the free Biz Buzz email newsletter.
Biz Buzz is brought to you by ICCU, the credit union looking after your daily balance. Join today!