The City of Boise and Ada County are happy to announce Ada County has earmarked a substantial sub-grant of $4.5 million to match the $5 million the City of Boise has pledged toward the development of affordable housing.
“As many Boiseans continue to be priced out of our housing market, it is more important than ever for the city and our partners to come together and invest in solutions so that everyone who chooses to call Boise home has the opportunity to do so,” said Mayor Lauren McLean. “This $4.5 million grant from Ada County is a significant step into furthering our partnership and making a real difference for our residents.”
The joint endeavor aims to transform nearly 2 acres of land, located at McKinney and Eldorado Streets, into about 250 apartment homes, 200 of which will be affordable to families earning 60% of the area median income (AMI) or less.
“The Board of Ada County Commissioners values all our local partnerships,” said Ada County Commission Chairman Rod Beck. “We are pleased we were able to successfully negotiate sufficient terms to make this an enduring project to benefit the community.”