A vacant lot at 8306 W. State Street in northwest Boise is finally getting a developer. Capital City Development Corp. announced Monday that its board of commissioners selected Outwest Investments, LLC to build Roe Street Multi-Family Homes, a proposed four-story building with 90 rental homes on the publicly owned parcel.
The selection, first reported by Idaho Business Review, is not a final approval. The vote simply allows CCDC and Outwest to negotiate an agreement, and agency staff will bring an exclusive negotiating agreement to the board at a future public meeting before any financial commitments or other terms get locked in, since those require separate board approval.
CCDC acquired the 1.92-acre site in the State Street Urban Renewal District in 2025 to facilitate redevelopment through its Type 5 Participation Program, according to the agency's project page. The board approved a competitive Request for Proposals in April 2026, with submissions due by the end of June; the agency's project page notes that initial site preparation work has already been completed. CCDC received two responses to that RFP and, per the agency's news release, prioritized attainable homes, quality design, better walking, biking and transit connections, and long-term investment in the corridor.
What Outwest Is Proposing
Outwest Investments, which the agency says has experience developing and operating multifamily and workforce housing, proposed homes ranging from studios to three bedrooms. That's 20 more homes than CCDC required in its RFP. Rents would target households earning 60% to 120% of area median income, with rents on average affordable to households earning 90% of AMI, designed to serve that range of incomes through 2042 — the same year the State Street Urban Renewal District is set to expire.
The RFP itself offered a potential land discount and reimbursement for eligible public infrastructure improvements, incentives CCDC has used elsewhere along the corridor. The development plan includes bicycle, scooter and electric vehicle charging stations, connections to existing sidewalks and neighboring development, a future State Street multiuse pathway, and may include a transportation hub.
“Adding homes along State Street is an important part of making this key corridor work better for the people who live here,” CCDC's Robyn Sellers said, according to the agency's announcement. Sellers added that more homes at a range of rents would give people more choices near transit, local businesses and everyday services.
A Corridor With a Spotty Track Record
State Street has seen plans stall before. The Idaho Statesman has reported that Silvercloud 2, permitted for 120 apartments next door to CCDC's lot, had yet to break ground, and that Westlock Village, approved for 224 apartments less than a mile up the road back in 2022, also remained unbuilt as of that reporting. The Statesman's earlier coverage of the same site described a prior RFP structure that would have required at least 70 units affordable to tenants earning up to 100% of AMI, with CCDC offering to refund the developer the full $1.75 million land cost once construction was complete — terms that illustrate how the agency has tried to make these State Street sites pencil out for builders.
Elsewhere on the corridor, CCDC's 16th & State project offers a point of comparison: a seven-story building with 104 homes and roughly 1,600 square feet of ground-floor retail on a 0.36-acre lot, where nearly all the studio units are planned at rents below 100% AMI and 38 are income-qualified at 60% AMI or less. Construction there began in November 2024 and was expected to wrap by March of this year, with CCDC estimating eligible streetscape and infrastructure expenses at $657,655. Separately, Boise entered a $1.75 million purchase agreement for a one-acre lot at 3515 W. State St. for a potential affordable-housing project that, if finalized, would join the city's Housing Land Trust — a model that has already delivered 413 deed-restricted rental apartments across three projects, per the Statesman.
Why Boise Needs the Homes
The push for more rentals on State Street comes against a stark backdrop. The City of Boise's housing needs analysis finds the city will require 2,019 new or significantly renovated units each year over the next decade, with 47% of that demand tied to households earning less than 80% of area median income. Construction within city limits has fallen short of that annual need by 300 to 800 units in recent years, and six out of every ten households earning less than 80% AMI are considered housing cost-burdened, paying more than 30% of their income toward housing.
Multifamily and missing-middle housing has picked up some of the slack, accounting for 52% of permitted units across Ada County over the past three years compared with just 31% between 2018 and 2020, the city's analysis shows. But construction costs have also climbed 40% nationally since 2018, according to the Mortenson Construction Cost Index cited in that same report.
Market data tells a mixed story on demand. Boise rents fell for the third time in four years during 2025, per Apartment List figures cited by the Statesman.
