‘Such a large development’: $1 billion Boise-area apartment, business hub set along I-84

Nick Rosenberger
·3 min read
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A group of Idaho and California developers could break ground this year on a massive commercial and residential development on the southwestern edge of Meridian that could cost over $1 billion.

The 222-acre project, called The District at Ten Mile, would be built on farmland on the northwest corner of the Ten Mile Road and Interstate 84 interchange, just across Ten Mile Road from Ten Mile Crossing. Ten Mile Crossing is a roughly 300-acre business center on the north side of I-84 and hosts a range of businesses, including the future Scheel’s Sporting Goods store, Paylocity and Leidos.

“(The District at Ten Mile) will have a combination of a large-scale mixed-use retail project, office, medical office, entertainment, hospitality and multifamily,” said Tommy Ahlquist, CEO of Ball Ventures Ahlquist, or BVA, a Meridian company that is helping develop the project.

This drone shot, looking northwest, shows development happening just north of the proposed District at Ten Mile. The 222-acre development would be just out of frame on the left hand side.
This drone shot, looking northwest, shows development happening just north of the proposed District at Ten Mile. The 222-acre development would be just out of frame on the left hand side.

With the addition of Highway 16, the Ten Mile Interchange and continued population growth, Ahlquist told the Idaho Statesman that there couldn’t be a better location for the project in the Treasure Valley.

The preliminary map of the District at Ten Mile shows multiple light industrial spaces in lower left, two “anchor” stores in the center and lower right and a building labeled “cinema/entertainment” at the top.
The preliminary map of the District at Ten Mile shows multiple light industrial spaces in lower left, two “anchor” stores in the center and lower right and a building labeled “cinema/entertainment” at the top.

Ahlquist said BVA hopes to get started on the project soon.

“It’s such a large development that it’ll be phased in over years, but we’re getting going on it in ‘24,” Ahlquist told the Idaho Statesman.

Ahlquist said they’ve seen considerable interest from businesses hoping to snag a spot. They’re already making lists of businesses and will sort through which ones will harmonize with each other the best.

The project also calls for at least 1,000 apartments, Ahlquist estimated.

“We want to have different offerings that hit different segments and demographics in the market,” Ahlquist said. “We want all that to be very integrated in the walkability to the center.”

The District at Ten Mile would be located on the northwest corner of the Interstate 84 and Ten Mile Road interchage, outlined here at bottom left. Ten Mile Crossing and the future Scheel’s Sporting Goods store is to the east of proposed site, across Ten Mile Road.
The District at Ten Mile would be located on the northwest corner of the Interstate 84 and Ten Mile Road interchage, outlined here at bottom left. Ten Mile Crossing and the future Scheel’s Sporting Goods store is to the east of proposed site, across Ten Mile Road.

More offices in Treasure Valley

The proposed development would also include a significant amount of office space, despite national trends that have seen office occupancy rates crater.

In the last quarter of 2024, the national office vacancy rate rose to a record-breaking 19.6%, according to preliminary data from Moody’s Analytics. The previous record of 19.3% was set in both 1986 from an expansion in office building construction and in 1991 during the savings and loans crisis.

2023 was the “most downbeat” year in office vacancy since the Great Financial Crisis, according to Moody’s Analytics.

But Ada and Canyon counties have continued to avoid massive office vacancy.

“One of the biggest myths for Idaho and the Treasure Valley is that there’s some office vacancy,” Ahlquist said. “I think nationally, if you look at what’s happened in Portland and Seattle and San Francisco, office markets have been gutted.”

According to Colliers Q3 Idaho Research Report, Canyon County’s vacancy rate sat at 2% while Ada County’s sat at 7.7% compared with the national rate of 19.2% in October.

Canyon County, in purple, sat at a 2% office vacancy rate while Ada County, in blue, sat at 7.7% during the third quarter of 2023, according to market research from Colliers.
Canyon County, in purple, sat at a 2% office vacancy rate while Ada County, in blue, sat at 7.7% during the third quarter of 2023, according to market research from Colliers.

“For Idaho, we have no vacancy, like, literally in our portfolio across all of our buildings,” Ahlquist said. “So absolutely, hell yes, we’re going to build more offices.”

Building a partnership to develop the Mountain West

BVA is not developing the project alone. Instead, the company is joined by the Idaho Falls-based Ball Ventures and Elevated Property Co., or EPC, a new venture started by Fred Bruning, Sean Dennison and Chris Byers of the California-based CenterCal Properties.

Bruning, Dennison and Byers helped develop the Village at Meridian, and EPC will own the retail side of the project, Ahlquist said. Through CenterCal, they have worked on other mixed-use projects across the country, including the College of Western Idaho’s Boise campus that could break ground this year.

“When you’re with (Bruning), it’s like being with the Wizard of Oz,” Ahlquist said. “He’s done this his whole life, and he knows what works. He knows what customers want. He knows what retailers want.”

According to a news release, the three companies are targeting other sites to develop across Utah and Arizona and have further plans for adding mixed-use projects throughout the Mountain West. These projects could include retail offerings, hospitality, apartments, medical and industrial spaces.

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