ITD Allocates $96 Million For Highway 16 Extension

The Idaho Transportation Department (ITD) has allocated an additional $96 million dollars to acquire needed right-of-way real estate for the Highway 16 Extension (aka Central Valley Expressway) to I-84.

Highway 16 Extension

(North is 90 degrees to the right)

That funding is in addition to $6 million that was released this past summer for initial engineering needed for the project.

When completed, the Central Valley Expressway will connect Emmett to I-84 and relieve Eagle Road congestion by providing residents of Northwest Meridian, Star, and Emmett easier access to I-84.

Residents of those areas will be able to reach I-84 within minutes while avoiding busy Eagle Road.

The new funding is in response to several major real estate developments recently announced for the Chinden Blvd. corridor.

Those new developments include the proposed $100 million Central Valley Plaza development that will be built by Ball Ventures Ahlquist in partnership with Brighton Corporation, to be located on Chinden Blvd. near Highway 16.

The Central Valley Plaza project will initially include 90,000 sq. ft. and be anchored by a new Hospital Corporation of America medical center, a Veranda Senior Living facility, as well as office and retail space.

Other recently announced Chinden Blvd. projects include the new Meridian Costco store, the Linder Village development anchored by Winco, and several other major planned developments.

Preliminary design of the Central Valley Expressway extension includes six lanes with a new I-84 interchange and various interchanges with major local roads.

The total cost of the Central Valley Expressway extension was estimated at $400 million in 2011, but that cost is expected to rise substantially by the time it is built.

Funding for construction of the highway extension has yet to be determined.

Given the rapid growth of the Northwest Meridian area, it seems likely that the Northwest Meridian area near Chinden Blvd. and Highway 16 will become the epicenter of growth for the Boise Metro area in the near future.

Image Credit: IdahoPress.com

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Meridian Idaho Linder Village Development Approval

Meridian Idaho Linder Village Development

Meridian Idaho Linder Village

Meridian, Idaho’s Planning & Zoning Department recommended conditional approval of the new Linder Village development last week.

Linder Village is a proposed commercial and residential development, planned to be built at the southeast corner of Chinden Avenue and Linder Road.

The new development will be anchored by a Winco store and include other retail establishments, office space, and two-story residential buildings on 81 acres.

The location, directly across Chinden Avenue from the existing Fred Meyer store, will provide ample grocery shopping opportunities for nearby residents.

Winco developments often include Petco and/or The Home Depot stores, but no other tenants have been named at this point.

The proposed site plan is similar to the Winco development in Eagle, which includes both Petco and The Home Depot stores.

Additional design elements will be required for final approval, including traffic calming measures for Bergman Way, and proposed multi-story live/work space in Phase 1 of the project.

The Meridian City Council voted to send an earlier proposal for Linder Village back to the Planning and Zoning Commission last January after extensive objections from nearby residents.

The Meridian City Council is scheduled to review the latest proposal again on December 18th.

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Who Pays For Meridian, Idaho Growth

How We Pay For Meridian, Idaho Growth

Meridian, Idaho Growth

Meridian, Idaho Growth Costs

The cost of growth includes road improvements, additional infrastructure, parks, fire protection, police protection, and other services that are required to accommodate additional growth.

Property Taxes

Most Meridian, Idaho property owners don’t review their annual property tax bills because their property taxes are paid as part of their mortgage payment.

A quick look at a property tax bill reveals how property owners help pay for Meridian, Idaho growth.

Here are a few items commonly found on Meridian, Idaho property tax bills.

  • School bonds (including supplemental and emergency)
  • County taxes
  • Fire districts
  • Highway districts
  • Meridian City
  • College of Western Idaho
  • Emergency medical service
  • Sewer districts
  • Mosquito abatement
  • Drainage districts
  • Irrigation districts

Meridian, Idaho Impact Fees

Meridian’s current impact fee is $2,017 per dwelling unit and is the same for single-family or multi-family dwellings.

Developers/builders pay those impact fees when they pull building permits.

Meridian, Idaho Growth Projections

The City of Meridian has estimated that 8,000 new housing units will be built in Meridian by 2024.

Meridian issued nearly 1,000 more residential building permits in FY 2018 than it issued in FY 2017.

In case you haven’t noticed, apartment complexes are springing up all over the Treasure Valley.

Multi-family units comprised nearly one-half of Meridian’s housing growth this past year.

The bottom line?

The City of Meridian is considering increasing impact fees to cover rising costs of growth.

Rising impact fees will result in higher building costs and higher home prices.

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More Meridian, Idaho Growth

Here’s the latest news on our ongoing Meridian, Idaho growth!

Meridian, Idaho Growth

Meridian, Idaho Costco

Construction of the new Meridian Costco at Chinden Avenue/Ten Mile Road should get underway soon, pending resolution of one final court appeal by a few residents who live nearby.

Costco worked extensively with the Meridian Planning Department and residents of nearby neighborhoods to design an attractive building.

The revised design will include earth-tone exterior colors and eliminate the red stripe seen on other Costco stores.

The parking areas will also include extensive additional landscaping..

Eagle View Plaza Development

The latest news about Meridian, Idaho growth includes the new Eagle View Plaza development that will replace the corn maze at the southeast corner of I-84 and Eagle Road.

Eagle View Plaza will be developed by Ball Ventures Ahlquist on 52 acres and include Idaho Central Credit Union’s new five-story headquarters on 12 acres.

The development will also include a hotel (brand undetermined), retail, office buildings, and apartments.

The corn maze will relocate to an undisclosed location next year.

Linder Village Development

The proposed Linder Village development will be located on 81 acres at the intersection of Chinden/Linder Road.

Winco is slated to anchor the new Linder Village development with adjoining retail, restaurant, and residential development included.

Winco stores are often accompanied by Petco or The Home Depot stores, but there’s no word on that yet.

Hospital Corporation of America Development

Hospital Corporation of America (HCA) will develop Central Valley Plaza, near Chinden Avenue and the Central Valley Expressway (Highway 16).

The $100 million dollar development will be anchored by a 90,000 sq. ft. medical center and include retail and senior living space.

The medical complex will include a surgery center and emergency facility.

Additional facilities to be added in Phase II.

HCA operates hundreds of hospitals and surgery centers in the U.S. and UK.

Central Valley Plaza will be developed by Ball Ventures Ahlquist, in partnership with Brighton Corporation.

Development is scheduled to begin next Spring.

Road Widening

Chinden Avenue is slated to be widened to accommodate the additional traffic created by the new developments.

Planning and design work is underway for extending the Central Valley Expressway to I-84.

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Meridian Idaho Home Sales – October 2018

Meridian Idaho Home Sales Activity For October 2018

Meridian Idaho Home Sales

Meridian Idaho Homes For Sale

# Available: 562    Click here to view all homes for sale in Meridian, ID
Average Asking Price: $403,136
Median Asking Price: $349,990
Months’ Supply: 2.1

Meridian Idaho Pending Sales

# Pending: 394
Average Asking Price: $368,277
Median Asking Price: $349,900

Meridian Idaho Home Sales – October 2017

# Closed: 241
Average Sales Price: $307,418
Median Sales Price: $277,990

Meridian Idaho Home Sales – October 2018

# Closed: 251
% Change: +4.2%

Average Sales Price: $344,422
% Change: +12.0%

Median Sales Price: $321,990
% Change: +15.8%

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Data extracted from Intermountain MLS on 11/5/18 and pertains to Meridian Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

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