New Downtown Twin Falls Building to Host Business, Restaurant, and Homes
TWIN FALLS, Idaho (KLIX)-A six-story building under construction in downtown Twin Falls will host a variety of tenants including residential, retail, offices, and a restaurant. Developers gave a sneak peek of the Main Avenue Lofts at the corner of Maine Ave. and Hansen St. on October 15, an area that has seen several building projects. In the last several years an old furniture building was transformed into the Twin Falls City Hall, while on the other corner another building was torn down to make way for an open commons area with a stage and water fountain.
The 15,000 square-foot building now stands where another historic building once stood and was home to the Idaho Youth Ranch thrift store for a number of years. The developer, Galena Equity Partners, announced the anchor tenant will be KickBack Points, LLC that will occupy part of the first floor and the entire second floor with 50 employees. Retail space will also be made available to women entrepreneurs working with the Idaho Women's Business Center. A restaurant space will also take up the first floor.
The remainder of the upper four floors will include 44 apartments, one or two-bedroom, eight of which will be rented out at U.S. Department of Housing and Urban Development rental rates to households making 80 percent of the area median income or lower.
The building is partially funded with federal money through the New Markets Tax Credit by MoFi, a nonprofit community development financial organization. The $12 million Main Avenue Lofts is also funded in part by Mountain West Bank and private investors with Galena Equity Partners.