Old pals team up on subdivision

Article published Sep 19, 2006
by Joe Estrella @ The Idaho Stateman

Developers say lots on 73-acre Two Rivers neighborhood in Payette will sell for less than lots elsewhere in the Valley

Brad Smith and Stan Clements have been friends since they attended elementary school together in Emmett more than 50 years ago.

So it was no surprise when the two went into business together as developers of Two Rivers Estates, a 73-acre, 170-lot residential project northeast of downtown Payette where building sites are selling for as much as 50 percent less than in other areas of the Treasure Valley.

"It's farmland that can be seen from Stan's house. It's close to downtown, but still in the country," Smith said. "For years, we would sit drinking coffee at his dining room table and talk about how we should buy that land and develop it."
Both men bring a certain expertise to the project. Smith, who lives in Boise now after 20 years in the construction business, oversees day-to-day on-site operations. Clements, who has owned various area business over the last 30 years, including All Valley Insurance Agency in Payette, handles the financial side of the business.

"And we managed to put the deal together through outside investors and without having to borrow any money," said Clements, who expects the project to be popular with retirees who are looking for a more laid-backed environment.
He says the property has some of the best views in the area, with Cuddy Mountain visible to the north and Blue Mountains to west. At its highest point, the property overlooks the junction where the Snake and Payette rivers meet.

Lots on the first 40 acres to be developed have been annexed by Payette and come with city services, including water, sewer and natural gas.

Clement said a 14,000-square-foot building lot, or the equivalent of a third of an acre, sells for $59,000.
"In Meridian, something like that would cost you $130,000," he said.

Kim Bruce, the Century 21 Parkview agent who is marketing the project, says six of the first 11 lots offered in the first phase of the development have been sold, with a deal pending for the remaining five locations.
"We were able to sell the first lot before the sidewalks were even put in," Bruce said.

Another feature that their clients like is that they can bring in their own builder, compared to some area communities where buyers are required to use a builder selected by the real estate company that is marketing the project.

That was enough to convince Payette native Ken Eckhart, 53, who was one of the first in line when Two Rivers began marketing the project.
Eckhart purchased a quarter-acre lot with an eye toward the day when he retires from his job as an assistant manager at the Outdoorsman sporting goods store in Ontario.

His says his decision was easy after he learned he would be able to do a lot of the work on his new home himself, rather than having to use a pre-selected builder.
"I couldn't find a lot in Payette where you didn't have to use their builders," Eckhart said. "And I wouldn't have bought a lot where they said I had to use their builder."