Developers present Broadway Skyline redevelopment concept; agency staff to prepare memorandum of understanding

Developers representing the Kingston family presented a conceptual plan to redevelop the corner of Skyline and Broadway and asked the Idaho Falls Redevelopment Agency to consider partnering through a memorandum of understanding, agency members said at the July 17 meeting.

Darren Pews, who identified himself as the region manager for TOK Commercial, said the Kingston family plans a mixed retail and service center with pads for restaurants and strip centers, interior parking, and a larger rear building that could accommodate a mid-size anchor tenant or medical/professional offices. "We have a gas stations on the corner... pads set up for quick serve restaurant users and some strip centers and, a bigger building in the back that we believe will be occupied by a mid sized box anchor tenant or perhaps, you know, some professional office, medical office, buildings," Pews said.

The presenters said the site currently comprises five parcels with several older buildings that will need demolition, including an older bank building containing asbestos. They noted a major geotechnical constraint: a large lava vein running through the site that will likely require blasting or other substantial earthwork to make the land developable. "The site also has a big hump in the land and we have yet to do a a study on or or, you know, do any drilling or or, analysis on that. But we're we're about 99% sure that it's got a big lava vein that runs down the center of it," Pews said.

Agency members and developers discussed zoning and parcel configuration. Megan, agency staff, noted the property is already zoned for the proposed uses, though site replatting and cleanup of access points will be needed. The development team said they expect to request a replat to consolidate parcels and to address access. Board members emphasized that the site appearance and buildability are important for encouraging further west-side investment.

Agency staff said the presentation was a discussion item but that staff will prepare a memorandum of understanding between the agency and the developer for the board to consider in August. "This is not contemplated as an action item on the agenda. It's just a discussion item. But I think I can go ahead and bring, work on an MOU with the development team and can bring that back to the board hopefully by the August meeting for the board consideration at that time," Megan said.

The developers asked for the board's feedback as they prepare a formal application; no formal commitment of agency funds was made at the July 17 meeting. The agency indicated support for continued discussion and directed staff to draft the MOU for possible action next month.

Ending: Staff will draft an MOU and return to the board at the August meeting for consideration; developers plan to submit a formal application following board feedback.