Boise, Idaho– Standard Communities announces it’s brand new, a ground-up development project in Boise, Idaho. The 173-unit market-rate multifamily development is Standard’s first investment in Idaho.
Standard Communities worked closely with its development partner, River Caddis Development, to design and build Jules On 3rd Apartments. The Opus Group is the design-builder, interior designer, architect, and structural engineer of record.
Standard Communities worked with River Caddis Development and Ada County to simultaneously solve parking needs for the county and increase the availability of apartments in the rapidly growing downtown Boise core. Ada County is the owner and operator of a parking structure that sits directly below Jules on 3rd Apartments. The 374-stall parking structure includes 200 parking spaces for the County.
Encompassing most of a city block in the heart of downtown Boise, Jules On 3rd Apartments is an eight-story, mixed-use, multifamily development with 173 units, which encompasses 285,000 square feet above 3,000 square feet of street-level retail space.
Located at 412 South Third Street, Jules On 3rd Apartments features first-class amenities, including a rooftop pool and sundeck offering expansive mountain views, a fitness and wellness studio, Sky Lounge Club Room, outdoor kitchen with BBQ grills, outdoor fireplaces, a conference room, a dog park and spa, 400 covered parking spots for resident and public use and storage for 192 bicycles.
A combination of 2-bedroom, 1-bedroom, and studio units in a range of layouts, the apartments feature vaulted ceilings, high-end finishes, quartz countertops, stainless steel appliances, private patios or balconies, built-in shelving, smart home technology doors locks and thermostats, and full-size washer and dryer.
“We are delighted Jules on 3rd Apartments is Standard’s first property in Idaho,” said Jeff Jaeger, Co-Founder and Principal of Standard. “Jules On 3rd Apartments is the best new residential development in Boise,” he added.
“This is an incredible opportunity for Standard to own a luxury mixed-use project on a downtown Boise parcel. Our innovative collaboration with River Caddis, The Opus Group, and Ada County delivers a positive impact to the community,” said Robert Koerner, Standard’s Chief Investment Officer.
“Jules On 3rd Apartments offers an attractive housing option in a bustling part of downtown Boise. Residents will be within walking distance of downtown retail and restaurants and have convenient access to the Julia Davis Park,” said Jeff Smith, Vice President of Project Management and Construction at The Opus Group.
“Jules On 3rd Apartments is more than a development or project – it’s a product of the public and private sectors aligning to create much-needed solutions, short and long term, for downtown Boise,” said Kevin McGraw, President of River Caddis Development. “We are grateful for our partners on the project as well the collaborative efforts of both the City of Boise and Ada County,” added Mr. McGraw.
Based in New York and Los Angeles, Standard has a national portfolio of over 15,500 apartment units. Standard has completed market rate and affordable multifamily acquisitions and rehabilitations nationally with a total capitalization of over $3 billion.
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance, project management and construction, architecture, engineering and interior design.
Based in East Lansing, Michigan, River Caddis Development is a premier developer of commercial real estate known for its commitment to collaboration and specialization in multifamily, retail office, and mixed-use developments. River Caddis Development’s in-depth knowledge and collective experience has resulted in the delivery of a diverse gamut of projects, each featuring unique attention to detail, creativity and sustainability.
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