Idaho’s premier commercial real estate development company, Ball Ventures Ahlquist (BVA) is revitalizing the Treasure Valley through mixed-use development.
This type of urban planning blends multiple uses into one space. Consider Eagle View Landing, a 73-acre project located in Meridian, Idaho. Eagle View Landing will incorporate over 650,000 square feet of class-A office space, Idaho’s first TopGolf venue, premium retail suites, two Hyatt Place hotels, multi-family housing units, and corporate campus development into one master-planned development.
Mixed used development is not a new concept. Since prehistoric times, human settlements have naturally developed into mixed-use settings. In modern America, separate-use zoning was not common until after World War II. Meanwhile, the standard in other developed countries is to continue to blend multiple uses in their spaces.
There are two main types of mixed-use developments:
Vertical mixed-use developments place different types of businesses into a single building. For example, a business owner could operate a coffee shop on the ground level of their building while living on the upper floors.
Horizontal mixed-use developments incorporate various types of single-use structures in a mixed-use area. Eagle View Landing embodies this type of development, with a site plan, that included true “Class A” office space, premiering retail pads, housing and entertainment all in one project.
Whether vertical or horizontal, mixed-use development offers numerous benefits both locally and globally.
Blending multiple uses into one area is an effective way of combating urban sprawl. Clusters of residential buildings, office spaces, and retail spaces encourage pedestrian- and bicycle-friendly infrastructure. This reduces long commutes and subsequent air pollution.
The elimination of the commute also encourages greater social connectivity. Rather than driving across town to enjoy a night out, residents in a multi-use area can simply go right next door. The “live, work, play” principle behind mixed-use development fosters a stronger sense of community.
A mixed-use development revitalizes an area by bringing in new housing and employment opportunities. Businesses and residences being located closer together allows more revenue to be generated out of a smaller area. Research in North Carolina found that a store located on the edge of town generated property taxes of $47,500 per acre, while a mixed-use area downtown generated $634,000 in property taxes per acre.
Location plays a key factor with mixed-use development. Eagle View Landing is located at the intersection of Interstate 84 and Eagle Road. Minutes away from downtown Boise, downtown Meridian, and the Boise Airport, the area sees the highest traffic counts in the state and offers excellent business exposure visible from the interstate.
Ball Ventures Ahlquist specializes in ground-up development, meaning they have extensive expertise in every step of the development process including: land acquisition, entitlements, space planning, architecture, construction management, leasing, and property management.
BVA’s mixed use developments continue to grow and expand, shaping the Treasure Valley and contributing new and needed workplaces, housing, and economy boosting businesses.