Strategy 5 worked with City of Boise officials to craft a plan for additional structured parking supply for the downtown, utilizing private sector investment. Implementation of the strategy resulted in the development of a Hampton Inn & Suites hotel (center, brick and tan) that capped a parking garage, which in turn was wrapped with ground floor commercial / retail space and a multi-family residential element.
Together, the private elements were used as the primary financing mechanism for the parking, which in turn provided space for hotel guests, retail customers, and others with a proximal downtown destination. This financing strategy enabled Boise to avoid the use of TIF funding, which had reached its statutory limit at the time.
This hybrid downtown parking structure serves several purposes and fits in well with other attractive buildings in downtown Boise. The success of this project has spurred other, similarly financed parking structures as well.