There has been a lot of discussion in our community about the possibility of a land swap involving the 157-acre Murgoitio parcel owned by the City of Boise. As I shared at last week’s Boise City Council work session, the city has been doing its due diligence to look into the details of the proposed trade due to the potential to build much needed, affordable housing at the site.
The value of the Murgoitio parcel is currently under review and we expect to have an updated broker’s opinion in the coming days. In light of skyrocketing land values in the area, it’s anticipated that this broker’s opinion will be significantly higher than the previous broker’s opinion obtained in 2020 that estimated the property’s worth at approximately $7.8 million.
In light of this, and with knowledge of recent bids on land adjacent to the Murgoitio parcel, the proposed trade agreement doesn’t make financial sense for Boise residents and is no longer under consideration.
We as a city are committed to using this land in a way that best serves Boise taxpayers. I look forward to engaging members of our community to seek solutions that best meet the needs of the residents of Boise.