Business
Optimistic Developer Gambles On Boise “Hole”
July 27, 2011 
Yet another developer has signed on to build something at 8th and Main –the site of the infamous downtown vacant lot known variously as “the hole, ground zero, and the pit.”
A feasibility study is planned to decide just WHAT to build. If the Gardner Company wants to insure success, they will look toward something with affordable housing, expanded convention space, a library, ample parking, an exterior color that is anything but beige or brown (possible orange and blue), topped off with a baseball park and high end condominiums.
IT would be a sure deal with massive government subsidies if they can figure how to include a transportation hub or at least a trolley station.
So far, they admit the deal still has some kinks to work out, but the DAILY PAPER headline claims they INTEND to build. Lest we forget, Larry Craig INTENDED to resign too.
The Statesman quotes Chief Operating Officer Tommy Ahlquist Wednesday saying Gardner has signed a contract to acquire the site from Capps Holdings LLC. Capps is a Lake Tahoe, Calif. developer which acquired the property in 2009 in a foreclosure auction.
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Comments & Discussion
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Jul 27, 2011, 4:23 pm
Banks will not finance housing projects these days. Seems they got overly zealous and made a bunch of bad loans to people who had bad credit, poorly paying jobs, and no money in the false belief about housing being a low risk deal.
Frankly, all the periodicals are full of stories about younger people preferring to live in downtown areas of cities. Let’s all hope the PIT gets a decent viable project for downtown.
Jul 27, 2011, 5:50 pm
P&Z will probably have them build right to the edge of the sidewalk and color it gray just like all the other crappy buildings in downtown. Maybe the “arts” commission will require them to put an oozing illuminated crack in the side of the building and pay for it with taxpayer “arts funding”. Just another dream of some poor schmuck developer who wants to build in Bieterland.
Jul 28, 2011, 8:55 am
Banks were told to make all those sub-prime loans! Barney Frank and Chris Dodd directed the banks to do “whatever it takes” to insure that every American citizen would be able to realize the American dream of owning a home!!
Jul 28, 2011, 11:29 am
Hey Cyclops, I distinctly remember Prez. GW talking about his ownership society and how he wanted everyone in a home of their own. Mr. Greespan and his buddies along with the banks with all the crazy schemes to issue loans to people with lousy jobs, no money and bad credit brought the whole deal down at the expense of middle class Americans. I watched my 401k evaporate, my home value crash to less than half of what it was three years ago today.
The good news in all of this is young people with some diligence can now better afford a home but they will have to put 10-20% down as insurance against default.
Last, how are all those Bush era tax breaks for the rich working out at providing jobs these days? The rich keep getting richer at the expense of middle class America. Time for the Glitterati to pay their fair share of the tax burden.
I am pretty sick of paying for a war that we can’t explain to citizens why we are there at huge cost to the USA while the rest of the world remain spectators. Time to “bug-out”.
Jul 28, 2011, 7:32 pm
Don’t hold your breath that the PIT will be anything more than it is….all these guys are doing is trying to get the “rights” so they MIGHT be able to get some poor sucker to pay them something some day. this deal is about a viable as the 34 story project that started this mess.
Jul 31, 2011, 3:10 pm
Eye on Numbers, Cyclops is myopic.
Aug 1, 2011, 12:19 pm
myopic must be th he heat. I had to google it.
Aug 2, 2011, 12:20 am
Dog, I may have to look twice as hard as hard as you, but the road is crystal clear. The dems have had the congress for 5 years, and the presidency for 3 years. It is becoming like blaming Lincoln for the great depression! Although the repubs aren’t a bit better, eventually you will realize that this is a democratic show. I don’t mean to ruin the ending for anyone, but the hero dies and we all fade into oblivion!!