More homes and businesses are coming to Eagle Idaho; costs of houses

Take a drive through Eagle and it’s easy enough to see a changing city.

The neighborhoods are lined with fresh, new homes, while vacant lots and sand-filled lots promise more growth in the city. But more development is planned for farmland and open space on the western and northern sides of the city.

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It only becomes clearer when you take a look at the agendas of the Eagle City Council, the Design Review Board and the Planning and Zoning Commission – which are filled with proposed subdivisions close to the city, in neighborhoods and on the edges of the city.

Since April The City Council has discussed, approved or heard changes to more than a dozen subdivisions working their way through the city’s entitlement process, allowing owners to develop property. These do not include the planned communities of Avimor and Valnova, which would deliver more than 15,800 homes when completed.

Construction has yet to begin on many of the potential subdivisions, but according to Mike Williams, the city’s deputy planning and zoning administrator, there were already 14 approved subdivisions that builders began working on in early May — including Avimor and Valnova in the Northeast. and northwest.

Williams said there were about 230 attached and detached single-family homes in the pipeline as of early May. Detached homes are self-contained, while attached homes include duplexes, triplexes and townhouses.

Some of the subdivisions the Eagle City Council has heard since early April include:

  • The 34 houses, 172 hectares Rocking A Ranch by Boise’s Alscott Real Estate, which Joe Albertson co-founded in 1976. His grandson, former NASCAR driver Brian Scott, is now the company’s vice president of real estate.

  • The 52-home, 33-acre Farmstead Landing owned by James Hunter and his company Boise Hunter Homes.

  • The 69 home, 35 hectares Gemshore Eagle RE’s Carp Ranch, ownership of which could not immediately be determined.

  • Boise developer Todd Campbell’s 74-home, 39-acre Kingswood TBC Land Holding.

  • Jordan Tampien’s 94-home, 31-acre Flats Sixteen in Spokane, Highway 16 Spokane and Star Chelan.

  • Wyoming-based TV44’s 301-home, 170-acre Terra View South.

The 3 subdivisions of Terra View

When completed, the entire Terra View subdivision — on the northeast corner of Highway 16 and Beacon Light Road — would cover 287 acres and accommodate 722 homes, according to its website. For comparison, that’s about 0.04 square miles larger than the city of Melba in southern Canyon County.

This aerial photo, looking northeast, shows Terra View at center with Highway 16 at bottom left and Beacon Light Road at bottom right. Terra View South would be just out of view at the bottom right. Terra View Eagle

The northern part of Terra View is already under construction with plans for 392 homes, says David Sterling, project manager at engineering firm Ardurra.

There is also the Terra View Commercial Subdivision, which includes larger lots along Highway 16 and Beacon Light Road, Sterling said. That subdivision includes 192 apartments.

The 301-home Terra View South subdivision, now made up of cornfields, would be developed in nine phases, Sterling said at a city council meeting. meeting Tuesday, where he asked for approval to annex 80 acres for the project. Construction of the first phase would begin in the middle of the site with a clubhouse, and the developer would build commercial businesses concurrently with the homes.

This aerial photo, looking southwest, shows the construction of Terra View’s man-made lakes in the center, with the intersection of Highway 16 and Beacon Light Road at the upper right. Terra View South would be located at the top center. Terra View Eagle

The proposed construction timeline for Terra View South extends to 2030, with two potential commercial phases extending between 2028 and 2035, according to an Eagle staff report.

Terra View South is surrounded by other incoming subdivisions, including the 316-home Millstone, the recently approved 613-home Torrente Secco and the 231-home Arvory Crest, Sterling said.

“Our project is kind of part of that,” Sterling said.

The Eagle City Council asked TV44 and Sterling to redesign some portions of the site plan Tuesday to increase the buffer between some homes and a road and make room for an active area such as basketball or pickleball courts.

This concept plan shows a possible site design with east at the top of the frame and north to the left of the frame. The Eagle City Council asked TV44 LLC, the developer, to redesign part of the plan at the bottom left during a May 28 city council meeting. Ardurra

Western Eagle approaches Star

Terra View and surrounding developments fall into the western part of Eagle and are moving closer to Star.

Most of the land in that area has already been seized — it just depends on when developers want to pull the trigger and build on it, Eagle Mayor Brad Pike said.

“It’s all based on the economy, on developers and how they want to use the land they’ve purchased,” Pike said by phone.

But he said the area, which is largely farmland, would not become a “wall of homes” because the city requires all subdivisions to contain 20% open space.

“We are very conscientious when it comes to open space,” Pike said.

Home construction in Eagle is slowing

According to data from the U.S. Census Bureau, in the decade between 2012 and 2022 — the most recent figures available — the city grew from just 20,000 residents to nearly 31,000 residents.

The pandemic has boosted growth. The city gained more than 6,000 residents between 2019 and 2024, according to population estimates from the Community Planning Association of Southwest Idaho.

But building permits are slowing down.

“(Developers) are still filing applications and permits,” Pike said by phone. “(But) they are trickling in now.”

The city averaged 510 residential permits per year between 2015 and 2023, according to Nichoel Baird Spencer, director of long-term planning and projects for Eagle.

“The last two years, and it looks like it will probably happen in 2024 as well, will be well below that,” Baird Spencer said at an April 29 meeting. “We were aiming for around 350 permits, but over the past two years we have ended up with just under 300.”

This chart shows the residential building permits issued by the City of Eagle by year from 2015 through 2023, with the y-axis showing the permit numbers and the x-axis showing the years. The permits issued in 2024 to date are listed on the right. City of Eagle

The number of building permits peaked in 2018 and has fallen every year since except 2021, she said. But the city is on track to reach 350 this year, which it says is a sustainable pace for building permits.

“I know it feels like there’s a lot of growth going on, but when it comes to building permits, we’re actually going backwards,” she said.

Baird Spencer and Pike don’t have a specific answer as to why building permits have dropped. Baird Spencer said this could have to do with Eagle’s high interest rates, limited lot availability and relatively high housing costs.

Much of the work happening now comes from projects that are finally coming to fruition, Pike said.

Aside from Avimor and Valnova, no massive 10,000-home subdivisions are being built, Pike said. It is mainly incremental projects that are breaking through, such as the Auberge or Molinari subdivision in downtown Eagle.

“I think we’re doing our fair share of homebuilding, but we’re not going crazy, and we’re not lagging behind,” Pike said. “I think we are in a good balance right now.”

A row of townhomes along the northern portion of the Avimor development in Eagle. Sarah A. Miller [email protected]

What It Costs to Buy a Home in Eagle

If you want to buy one of these newly built homes, you’ll need to earn more than the average income in Ada County.

The median price of a newly built home in Eagle in the first quarter of 2024 was $730,000, and the median price of an existing home was $800,000, according to the Intermountain Multiple Listing Service.

The comparable national medians were $560,000 and $505,000.

Only new construction homes in Northeast and Northwest Boise and in Garden City cost more than in Eagle. For existing homes, Eagle ranks second most expensive in Ada County, behind Northeast Boise.

According to the most recent figures from the U.S. Census Bureau, the median household income in Ada County in 2022 was $87,774.

With that income — if you spend just 30% of your income on housing as recommended — you could potentially buy a home for about $330,000 with a $30,000 down payment and $0 in monthly debt, according to Zillow’s mortgage calculator.

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Nick Rosenberger is the Idaho Statesman’s growth and development reporter, focusing on all things housing and business. Nick’s work has appeared in dozens of newspapers and magazines throughout the Pacific Northwest.
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