Eagle rock Takes Flight
Visionary Developers Reclaim the Snake River as the Heart and Soul of Idaho Falls.
Ball Ventures, renaissance partners, NAI Commerce One and McNeil Development are changing the face of Idaho Falls. The economic and commercial center of Southeast Idaho (Idaho’s second most populous region at almost 300,000), Idaho Falls is quickly becoming to the area what Boise is to the Treasure Valley.
These business leaders have been more than eager to work with IQ Idaho in letting the rest of Idaho, and especially the Treasure Valley, in on the massive urban renewal effort in Idaho Falls.
A few issues ago, IQ Idaho poked a little fun at Idaho for its not so secret, and to be honest, ridiculous and outdated regional and political rivalries in an article entitled, “Let’s Break this Thing Up.” The basic thrust of that article is that while life as an Idahoan is certainly something special, Idaho’s various regions and groups tend to resemble a dysfunctional family, fighting over affection, recognition and resources. On a recent trip to Idaho Falls, it became clear that perhaps there are some cracks in the proverbial wall historically in place between Idaho’s East and West. It also became very clear that big things aren’t just happening in Boise. The Upper Snake River Valley, with its Idaho Falls hub, has in virtually every sense become a major economic, business and political center to complement rather than threaten the Treasure Valley.
Two decades ago or so, Boise was in much the same place Idaho Falls found itself circa Y2K. The parallels are intriguing: a rapidly growing population underserved by retail, dining and commercial offerings; a historical but beleaguered and largely sluggish downtown area; a highly educated workforce and a strong economy; access to some of the best outdoor and recreational opportunities in the country; and the influx of large numbers of new residents from large population centers around the country. Idaho Falls, like the Boise of old, has until very recently suffered from a serious lack of outside recognition and developmental vision. Interestingly, many I.F. residents like the obscurity.
They’ve seen the population explosion in Boise and nearby Salt Lake City, and most residents offer a resounding “NO THANKS.” Unfortunately, the secret is getting out and the outdoorsmen and women of Idaho Falls will inevitably see increasing competition for fishing holes and camping spots.
To me, the reawakening of the American city center is one of the most exciting phenomena of the late twentieth and early twenty-first centuries. Throughout much of the 1960s, 1970s and 1980s, America saw its commercial centers of gravity dissipated from downtown to suburban malls, chain restaurants, and the efficient but boring strip mall. Two decades ago, downtown Boise was devastated by the phenomenon. Downtown Boise has come back with a vengeance, and in 2007, Boise’s city center is one of the most delightful and charismatic downtowns in America, a source of municipal pride, and a great place to shop or spend an evening.
There are a group of influential Idaho Falls developers who are convinced that the Idaho Falls City Center is ready for a similar revitalization, which to a large degree is already taking place. We think they’re right. How many U.S. cities have waterskiing access downtown, miles of beautiful river waterfront, waterfalls downtown, miles of greenbelt, and eagles, ospreys, ducks and geese sharing space with a metropolitan population? There’s a lot going on in Idaho Falls, but first, a little historical perspective.
In the 1970s to mid-1980s, Idaho Falls’ historic downtown suffered a series of blows. The knockout punch occurred when a new mall opened in 1984 several miles across town near the City of Ammon on the east side of town. The hospital and medical profession quickly followed a few years later when the Eastern Idaho Regional Medical Center moved to the east side. Frankly speaking, Idaho Falls’ city center, even with all of its beautiful river front area, lost its energy.
Idaho Falls, like many western cities, had practical beginnings. In the 1860s, a toll bridge was constructed to shake a little coin from travelers along the Old Montana Trail on their way from Salt Lake City to Montana. Soon, the humble crossing site became the town of Eagle Rock. Next came the railroad, regional agricultural commerce, facilities appropriate for the raucous and lascivious Wild West residents, a large Mormon influx from nearby Utah, and in 1891, the town of Eagle Rock grew into the city known as
Idaho Falls.
For those of you from elsewhere in the state, avoid the temptation to roll your eyes at this article as a puff piece. Raw statistics demonstrate Idaho Falls’ economic prowess. Twenty-first century Idaho Falls is large enough to be classified as a “Metropolitan Statistical Area” by the U.S. Census Bureau and Bonneville County boasts one of the highest median incomes in the state. In 2006, only Hailey had a lower unemployment rate than Idaho Falls (2.5% and 2.6% respectively).
While Idaho Falls has always been an economic and business power, development has thus far lagged. According to local business leaders and developers, the time is right for Idaho Falls to take itself to the next level.
Idaho Falls’ Urban Renewal Snake River Landing Ball Ventures, LLC, founded by long-time Idaho Falls business leader Allen Ball, has readied over 400 acres of prime riverfront property along the Snake River between the new I-15 Sunnyside
Road exit on the south and the Idaho Falls City Center exit on the
North for a master planned development. According to Cortney Liddiard, CEO of Ball Ventures, the development is based on the notion of a “community within a community.”
For those unfamiliar with Idaho Falls, it is difficult to have a sense of the scope of the project. It’s huge, even by big-city standards. Loaded with green space, parks, green belts, walking trails and public riverfront access, the project entails the construction of retail shops, premium office space, high-end hotel and restaurant locations, civic facilities, and residential and condominium developments that place it well on its way to becoming one of the premier destinations in south-eastern Idaho.
The philosophy of the project is to allow people to live, work, shop and play without ever having to leave Snake River Landing. At this stage, rough site grading has been completed along with a mile or so of roadway running throughout the project. Multiple buildings are currently under construction, and ambitious landscape, streetscape and park improvements are scheduled to commence this spring. Its proximity to Interstate 15 makes the development attractive for many businesses.
The positioning of the project is ideal to take advantage of population growth and the huge volume of tourists that pass through Idaho Falls annually on the way to Yellowstone Park, the Grand Tetons, and Jackson, Wyoming. The project is directly in line with the city’s overall growth strategy. At this month’s IQ Industry Outlook meeting, Mr. Liddiard made it clear that one of the major differences in the Idaho Falls of today versus that of just a few years ago is the vision and cooperation coming out of City Hall.
According to Liddiard, the city’s willing assistance and encouraging presence has made it an indispensable partner in all new Idaho Falls’ redevelopment efforts.
The City of Idaho Falls was recently ranked eighth on Inc. Magazine’s list of “Boomtowns ’06: Hottest Small Cities.” It was tenth on the list of Overall Best Cities. According to Inc. Magazine, “With a revitalized downtown district, Idaho Falls is big on small-town charm. But it also boasts a diverse band of high-tech companies primarily revolving around the Department of Energy’s Idaho National Laboratory.” The development at Snake River Landing seems to be that perfect marriage of charm and vision.
Renaissance Partners Imagine taking on a project where the easy part required the acquisition of more than 50 acres spread among 15 separate landowners. Once that was accomplished, you face the unenviable logistical and environmental task of removing junk yards, dilapidated storage facilities, a butcher shop, an RV dealership, fuel storage tanks, an old bar, a house moving company, a county road, a bridge, a potato packing warehouse, a bridge and the accumulation of a century of junk and debris. There’s more.
Mother Nature decided to throw her weight around. Extensive lava beds needed to be blasted, hauled away or crushed before any real redevelopment could be accomplished.
Despite the obstacle s , Renaissance Partner s , LLP
(“Renaissance”), the joint venture of two neighboring family businesses, made it happen. Located immediately off of the City Center Broadway exit, what was once a motley and random collection of old buildings and businesses has been transformed.
Renaissance has constructed the first Marriott in Southern Idaho, worked with Wal-Mart on a Super Wal-Mart that opened in 2004, and arranged the belated arrival of Olive Garden to Idaho Falls that opened December of 2006. Still to come is a 10,000 square
foot shopping district under construction, and ground-breaking for the first Ruby River Steak House in Idaho is only days away.
The City of Idaho Falls couldn’t be happier. Similar plans for the area had crashed and burned due to lack of vision and resources. According to Kirk Hansen of Renaissance, there is plenty of credit to go around for the success of the project, naming specifically “Renaissance’s love and vision for the entrance to Idaho Falls, the cooperation with the Idaho Falls Redevelopment Agency, City Staff and County Officials, and the expertise of their real estate professionals” as the primary reasons for the ultimate success of the project. Taylor Crossing on the River McNeil Development, L.L.C. (“McNeil”) of Idaho Falls has turned a previously barren 45 acre stretch of Idaho Falls’ riverfront into a beautiful and seamless juxtaposition of nature, technology, art, architecture and function.
The development’s philosophy is to provide business with aesthetic and functional space which is high end yet affordable. It really is quite extraordinary in both setting and design. At its center is a roundabout featuring what can only be described as a rugged waterfall style fountain with massive sculptures of eagles, mountain lions and other native Idaho wildlife. The chosen architectural theme is described by McNeil as “timeless” and has certainly raised the bar for other Idaho Falls developers. The development was aptly named after the original identity of Idaho Falls, which, in the mid 1800s was know as Taylor Crossing where travelers crossed the dangerous Snake River on a Toll Bridge built and maintained by early resident Matt Taylor. The name is appropriate as McNeil’s Taylor Crossing has proven no less visionary than its namesake. There was no shortage of short-sighted detractors in town who weren’t shy about their opinion that perhaps the idea was a bit high-brow for Idaho Falls. The success of the venture, as well as the economic and beautification impact of the project on the city has clearly proven the doubters wrong. NAI Commerce One NAI Commerce One is the Eastern Idaho affiliate of NAI Global, the world’s leading managed network of commercial real estate firms, with over 300 offices in 40 countries. The Idaho Falls based company started with four agents six years ago, and has grown to ten full time commercial real estate professionals with specializations to cover every real estate need. NAI Commerce One worked closely with Renaissance Partners for the land assemblage that produced sites for Super WalMart and Olive Garden restaurant, and is in various stages of development for further projects in Idaho Falls ’ gateway area such as KATSAM, LLC in bringing to pass a retail development called Eagle Rock Town Center just off Utah Avenue. Across the street on Pancheri Drive, they are working with Ball Ventures, LLC to bring in Snake River Landing, which will balance the retail growth on the south side of this growing area. According to NAI’s Steve Keim, the growth and development in Idaho Falls and other locations outside the Treasure Valley are key to the continued development of the State of Idaho. From a national perspective, companies are much more willing to invest in a state with two or more markets. Until recently, only Boise and the surrounding area were seen as a viable market for many national retailers. With the Treasure Valley squarely on the national radar, one of NAI Commerce One’s major jobs is to educate companies who may otherwise pass on Idaho about growing markets like Idaho Falls. Due to NAI’s international presence in the world’s most important markets, the brokerage lends a great deal of credibility to the area and significantly due to NAI Commerce One’s influence, many companies who would otherwise pass on Idaho are not only taking a second look, but committing to development both inside and outside of the Treasure Valley. There’s a lot going on in Eastern Idaho. With a strong economy, local business leaders who are choosing to reinvest in the community, and political leaders who are in step with the needs of the area, all of the indicators are there that the region will continue to play an increasing role in Idaho’s rise on the national scene. In May of this year, IQ Idaho will feature Idaho Falls and Eastern Idaho in a Special Report detailing East Idaho’s stunning outdoor beauty, unique lifestyle, vibrant business climate and diverse educational opportunities.
Story by Jeff Boyle. Originally published in IQ Idaho Magazine.
Tags: Ball Ventures, Snake River Landing
