New developments and housing options are on the rise in Southern Idaho.
The Magic Valley real estate market remains strong as new commercial projects and residential options continue to become available.
“In Twin Falls, we actually issued more building permits in 2020 than any of the past several years, even in spite of the pandemic,” says Nathan Murray, director of economic development for the city of Twin Falls. “In March 2020, when the governor announced the basic shutdown of Idaho, there was a pause for a couple weeks and then our construction industry got right back to work again.”
Murray says Twin Falls typically issues about 250 housing permits a year, but that number would be even higher if there were more electricians, pipefitters, drywallers, painters, bricklayers and concrete workers to go around.
“A lot of our development these days is in the downtown area,” he says. “We’re getting interest from people of all ages – millennials, young professionals and retirees – who want to make downtown Twin Falls their home.”
One of the downtown projects is called 160 Main, a mixed-use building that will feature 18,000 square feet of commercial space on its ground floor as well as 41 apartment units on upper floors. Boise-based Galena Equity Partners owns the property and expects construction to begin in early 2021.
Another initiative is a row house development called Park Place Homes. Made up of 12 homes, these units, which are being built across from City Park, will feature two or three bedrooms. The development is expected to open in September of 2021.
“Another downtown project is 660 Shoshone, which will be 40 affordable units along with spaces for public services like health care and daycare,” Murray says. “Twin Falls is the urban center for the Magic Valley, and our downtown will soon provide a variety of excellent new housing opportunities.”
North, South & West
Real estate is thriving across the Magic Valley but, depending on different communities in the region, residents can find their perfect style of living.
In the north, residents have access to what is called “horse property,” where homes come with small acreages and allow for country living close to urban amenities. Communities with this style of housing include Jerome, Gooding, Shoshone and Fairfield. Plus, the residents who live here have iconic attractions like Shoshone Falls, Devil’s Corral and Snake River Canyon close to their front doors.
In the southern part of the region, Kimberly functions as the bedroom community to Twin Falls, as it’s just 15 miles away. Residents can enjoy all the amenities that Twin Falls offers, while living in friendly subdivisions or even 5-acre ranchettes.
Hot Housing Market
One of the Magic Valley’s fastest-growing areas – the east/southeast region – has communities like Burley, Rupert, Heyburn, Paul, Oakley and Albion. These areas offer easy access to the Snake River and several of the region’s waterfalls. Plus, residents have the transportation convenience of Interstate 84 at their fingertips.
“For Burley, investors and potential new residents are interested in us because of our location right on the Snake River and halfway between Boise and Salt Lake City,” says Doug Manning, City of Burley director of economic development. “Our planning and zoning department stays busy fielding many requests for new housing developments. Anything built-in Burley is purchased or leased in a very short time.”
Manning says the city plans to rehabilitate the downtown district in a variety of ways within the next year, and popular subdivisions such as Glacier Park and Harrison Heights are continuing to develop.
“As far as commercial, a new Holiday Inn Express plans to open in the third quarter of 2021 off I-84 where it meets Overland Avenue,” he says. “The industrial and commercial boom in Burley has been pretty amazing over the last 10 years, and now, our residential market is becoming just as robust.”
If you’d like to learn more about the Southern Idaho area, check out the latest edition of Livability: Southern Idaho