Developer confident of financing

by Lora Volkert @ Idaho Business Review
10/16/2006

Boise Place developer Gary Rogers said last week he still hasn’t signed a deal to finance the proposed high-rise, but he hopes to do so by the project’s Nov. 8 Boise Design Review hearing.
Boise Place is planned as a 31-story building on the site where the Boise Tower was started.

“The good news is we know it’s there,” he said of the financing. Rogers said he is still working with two potential financial partners.

The developer for the Boise Tower, Rick Peterson, was never able to obtain financing for the project, although he said several financial institutions were interested.

Boise Place doesn’t warrant comparisons to the Boise Tower, said Rogers, the manager of Charterhouse Boise Downtown Development, and Boiseans don’t need to worry about financing for Boise Place.

“This is not the old project. This is the new project. It happens to be on the same site. But we’ve got new people and new money and everything else,” he said.

Boise Place would be 400 feet tall, cost $126 million to build, and include ground-floor retail, parking on floors two through six, a spa and fitness center on floor seven, hotel rooms and condos on floors eight through 21, more condos on floors 22 through 30, and a rooftop terrace.

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