A new apartment complex with a majority of affordable housing units will soon be coming to Idaho Falls.
The Teton Mesa Apartments will be located at 855 Lomax St. Stretching across five acres, the complex will include four separate three-story residential buildings, a single-story clubhouse, a playground and green space.
The Teton Mesa Apartments will consist of 72 units in total. Each residential building will have 18 units, 90% of which will be slated as affordable housing with a few market-rate units.
The complex is being built by The Housing Company, a Boise-based subsidiary of the Idaho Housing and Finance Association.
“There’s a demand in Idaho Falls for more affordable housing. I think there’s that demand in many communities throughout the state of Idaho and we’re trying to develop this property to make an impact with regards to that need,” Blake Jumper, development manager for The Housing Company, said.
The apartments are still in the early phases, Jumper said. For now, the Lomax Street lot remains vacant.
“Currently, we’re working on entitlement as well as the permitting process,” Jumper said.
Last week, The Housing Company filed five permits with a total of $261,456.10 in fees. Those fees included commercial permits, electric line extensions, fire reviews, erosion control, plan checks, sewer connections and water services.
The project is listed with a general contractor bid valuation of $3,000,000 to $4,999,999 on Dodge Data & Analytics.
The Teton Mesa Apartments will be The Housing Company’s second project in Idaho Falls. The first was the Bonneville Apartments project in which The Housing Company remodeled the historic former Bonneville Hotel into affordable housing.
Jumper said having experience with the area has helped streamline this new construction.
“We have obviously worked with the city of Idaho Falls in the past and have formed a good partnership there so we’re excited to do another project in the community,” he said.
Jumper declined to give a timeline for either the start of construction or the proposed completion date of the Teton Mesa Apartments, saying they were “still tentative right now” and he will “have a better idea in the next couple months.”