Monday, July 21, 2008

Developer on other developer's hole

Posted By on Mon, Jul 21, 2008 at 4:00 AM

It's called a fire sale.

BoDo developer Mark Rivers was only a tad more subtle when he called it "financial liposuction" at the City Club of Boise forum today.

But either way, the vacant lot at the corner of Eighth and Main is overvalued and underutilized, Rivers said. Rivers reminded the gathered city fathers and mothers that The Hole is just one project among many downtown.

"It's one development opportunity that hasn't happened," he said. But it will happen after whoever owns it now gets over that fact that there is a bunch of rusty rebar in the ground.

In the meantime, Rivers recommends, with a smile, a giant moon bounce for the kids. And rotating out the Chinese characters on the fence with some Egyptian art.

Rivers also talked about his new business incubator, called The Water Cooler, and his plans for another development project between BoDo and the Boise River surrounding a new state-of-the-art city library.

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