TWIN FALLS, Idaho (KLIX) – A six-story apartment building under construction in downtown Twin Falls will accommodate a variety of tenants, including residences, retail, offices and a restaurant. The developers gave a preview of the Main Avenue lofts at the corner of Maine Avenue and Hansen Street on October 15, an area that has seen several construction projects. In recent years, an old furniture building has been transformed into Twin Falls Town Hall, while on the other corner another building has been demolished to make way for an open common space with a stage and a water fountain.
The 15,000 square foot building now sits on the site of another historic building and housed the Idaho Youth Ranch thrift store for a number of years. The developer, Galena Equity Partners, has announced that the primary tenant will be KickBack Points, LLC which 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 area will also occupy the first floor.
The remainder of the top four floors will consist of 44 apartments, with one and two bedrooms, eight of which will be rented at U.S. Department of Housing and Urban Development rental rates to households earning 80 percent of the region’s median income or less.
The building is partially funded by federal funds through the New Markets Tax Credit from MoFi, a nonprofit community development finance organization. Main Avenue Lofts’ $ 12 million is also funded in part by Mountain West Bank and private investors with Galena Equity Partners.