An affordable-housing development anticipated to be “pivotal” in meeting housing needs in Meridian has been canceled and has reverted to previously approved plans for market-rate apartments.
The planned development’s termination, which developers say was caused by a complex array of financial factors, constitutes a blow to housing affordability in the region, according to a Boise-area homelessness nonprofit that supported the proposal.
The development, called Centrepoint Apartments, was expected to bring 239 affordable “workforce” apartments to the southwest corner of Eagle and Ustick roads. The one-, two- and three-bedroom apartments were designated for people who earn no more than 80% of the median income in the area, according to Chase Huber, intermountain development manager for DevCo, which was supposed to head up the development…