Following input and encouragement from the Teton County Joint Housing Authority and the Driggs Urban Renewal Agency, the City of Driggs has selected Northwest Real Estate Capital Corp (NWRECC) to develop a mixed-use affordable housing project ("Depot Square") on 1 acre of city-owned property at the corner of Depot St and Front St in Driggs.
NWRECC applied for and has received an award of tax credits from Idaho Housing and Finance Association to help fund the project.
Depot Square will provide:
- 30 apartments (3 three-bedroom; 16 two-bedroom; 11 one-bedroom) permanently deed-restricted as affordable to households with incomes ranging from 30% to 60% of Area Median Income;
- 1 market rate one-bedroom apartment;
- 3 Live-Work units, which have a two-bedroom apartment behind a groundfloor storefront that can support a variety of commercial uses by the occupants. These will be rented at market rates;
- A roughly 2,500 square foot retail space at the corner of Depot and Front St;
- 4 Proof of Concept commercial units to support small start up businesses (about 400sf and short duration leases)
- 1 Community Space that will be available to community groups to rent for events/meetings.
- Resident amenities: on-site manager, bike storage, outdoor play space, off-street parking.
The project schedule is currently:
- January - July: Design and Permitting
- August 2021 - September 2022: Construction
- Leasing Fall 2022 (Link to application will be posted here when available)
For more information, please contact Doug Self, Driggs Community Development Director and Housing Authority Secretary at DSelf@DriggsIdaho.org or 208-354-2362 ext. 2111.