Boise, ID (2021)

Avery

Investment

NMTC Amount: 14,100,000

Total Project Cost: 16,326,253

IMPACT

85 FTE jobs

67 construction jobs

CDEs

Project Description

The project is the rehabilitation and redevelopment of the 26,250 sq. ft. A. Tiner Building in downtown Boise, ID. Once complete, the building will house a hotel and two restaurants. The four-story, Renaissance-style building was designed by the firm of Wayland & Fennell in 1910 for the New Boz Theater and Manitou Hotel. It operated as a theater and hotel until it closed in the 1960s. The ground floor transitioned into a night club in the early 1970s and closed permanently in 2014. The upper three floors have been vacant since the hotel closed in the 1960s. The building’s interior is currently in poor condition with backlogged electrical, plumbing and mechanical issues. Bringing the building’s deteriorated condition up to modern code combined with a challenging building location in a historic downtown area creates a more complicated construction process and significant cost. Many developers have considered this building over the past several years but none were able to find a way to make it financially feasible.

The New Markets Tax Credit program can provide the necessary subsidy to make the project a reality. The project will include a new boutique hotel, the Avery, with 39 rooms on the second, third and fourth floors and two restaurants, the Avery and Tiner’s Alley occupying 5,000 sq. ft. on the ground level. The basement will be used as office and kitchen prep space. The Avery restaurant will be a 90-seat restaurant serving breakfast, lunch and dinner while Tiner’s Alley would be a 70-seat gastropub open late afternoon through late evening. The project will create 80+ permanent jobs, most of which are both accessible and quality. These jobs will start in the first quarter of 2023. The project developers have acknowledged the current service sector labor shortage and are taking measures to ensure they will be fully staffed when they open. For example, they are partnering with Life’s Kitchen, a non-profit social enterprise providing at-risk youth ages 16-24 years old with wrap-around work and life skills. Youth in the Life’s Kitchen program receive a variety of restaurant kitchen skills and the group is consistently in need of local restaurants to provide mentoring and job opportunities to the Life’s Kitchen students and graduates..

MAP

1010 West Main Street, Boise, ID 83702

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