Economic Impact

Established in 1995, the 303-acre district extended from 16th Street to Broadway Avenue and from Jefferson Street to River Street. At its creation, much of the area consisted of aging warehouses, underused properties and infrastructure that no longer supported Boise’s long-term vision. The district was intended to transform those remnants of Boise’s industrial past into a connected, mixed-use neighborhood supporting housing, employment, commerce, culture and public life.

CCDC used tax increment financing to reinvest the additional property-tax revenue generated by rising assessed values within the district. Those funds supported streets, utilities, public spaces, mobility improvements and partnerships that encouraged private development. Over its 30-year life, the district generated more than $153 million in tax increment revenue. When the district sunset in September 2025, its increased tax base returned to the participating taxing jurisdictions, extending the benefits of redevelopment to the broader community.

The report found that property values within the district grew much faster than those across Boise as a whole. Between 2000 and 2024, the district’s total assessed value increased from approximately $63.6 million to nearly $1.65 billion—an increase of 2,491%. Its average annual growth rate was 13.3%, compared with approximately 6.3% citywide from 2000 through 2025. The district’s tax increment value alone reached approximately $1.55 billion in 2024 after accelerating sharply beginning in 2017.

Commercial property remained the district’s dominant land-use category. Commercial assessed value increased from approximately $55.6 million in 2000 to more than $1.4 billion in 2024, representing growth of more than 2,450%. Residential assessed value increased from approximately $2.5 million to $182.3 million, an increase of more than 7,000%.

The nature of that growth differed between commercial and residential properties. Commercial square footage increased from approximately 1.9 million square feet to 6.8 million square feet, adding about 4.8 million square feet. Residential square footage grew more modestly, from approximately 160,000 to 461,000 square feet. This suggested that commercial growth resulted largely from adding new development and expanding the supply of space, while residential growth reflected both new construction and substantial appreciation in the value of existing properties.

The district also experienced greater development intensity and a broader mix of uses. Office, retail, restaurant, parking, apartment and residential space all increased. Growth in office and apartment square footage was particularly strong, demonstrating a shift toward taller buildings and more efficient use of limited downtown land. The result was a more diverse district offering additional places to live, work, shop and gather.

To separate the district’s influence from Boise and Ada County’s broader economic growth, the researchers conducted a difference-in-differences analysis comparing parcels inside the district with properties outside it between 2007 and 2024. The model controlled for property type and ZIP code and accounted for repeated observations of individual parcels.

The analysis found that assessed values for all studied properties increased by approximately 80% during the period. Parcels within the River Myrtle-Old Boise District experienced an additional 53% increase beyond that general growth. The result was statistically significant and supported the conclusion that inclusion within the district was associated with property-value gains beyond those produced by regional market conditions alone.

The report also used the IMPLAN economic model to estimate the effects of CCDC capital spending between fiscal years 2008 and 2025. Those investments generated an estimated $209.7 million in total economic output within Ada County. The activity supported approximately 941 jobs, produced $83.8 million in labor income and contributed $117.1 million to gross domestic product.

The model estimated that the resulting economic activity generated an additional $23.7 million in tax revenue across local, county, state and federal jurisdictions. Approximately $5.3 million went to the state government and $16.8 million to the federal government. These figures did not include additional property-tax revenue arising from the district’s increased assessed value.

The researchers acknowledged several limitations. Parcel-level valuation data was unavailable for the district’s first five years, the statistical comparison covered only 2007 through 2024, and detailed capital-spending records were limited to fiscal years 2008 through 2025. Even so, the excluded years represented only about 8.6% of total district revenue, meaning the economic model captured most of the district’s investment activity.

Overall, the report concluded that the River Myrtle-Old Boise District substantially achieved its redevelopment goals. CCDC’s investments helped increase property values, expand commercial and residential space, diversify land uses and generate significant economic and tax benefits. The district demonstrated how sustained public investment, combined with private development, could transform underused urban land and produce lasting benefits for Boise and Ada County.