The Pacific Companies Opens 193-Unit Denton Street Apartments on Boise Bench With Idaho Housing and Finance Association, City of Boise Support

BOISE, Idaho — The Pacific Companies has completed Denton Street Apartments, a 193-unit affordable multifamily development at 6160 W Denton St in Boise's Boise Bench neighborhood, marking one of the largest single-site income-restricted rental projects in the city. The development was made possible through a multi-layered public-private capital stack totaling approximately $74.5 million, with financing from the Idaho Housing and Finance Association and the City of Boise playing central roles.

Project Overview and Financing Structure

The five-story building, situated near Saint Alphonsus Regional Medical Center in the Liberty Park neighborhood, contains 191 income-restricted units and two unrestricted units. The unit mix includes 43 studios, 79 one-bedrooms, 51 two-bedrooms, and 20 three-bedrooms, with affordability bands ranging from 30% to 80% of area median income.

The capital stack draws on approximately $31.2 million in Low-Income Housing Tax Credit equity, $4 million in Idaho Workforce Housing Fund financing from the Idaho Housing and Finance Association, and nearly $7 million in City of Boise funds. The combination of public subsidies and LIHTC equity covers well over half of the total development cost, reducing permanent debt load and enabling below-market rents across the majority of units.

"Developments like this depend on a variety of partners, from tax credit providers to financial supporters, to make the numbers work," said Caleb Roope, president and CEO of The Pacific Companies. "We appreciate Idaho Housing and the City of Boise for helping bring everything together."

Homelessness Set-Aside Managed by Our Path Home

As part of its agreement with the City of Boise, The Pacific Companies dedicated 19 units within the building to households exiting homelessness. Those units are managed by Our Path Home, the region's coordinated entry system for homelessness services.

One resident, identified only as Tim in Idaho Housing and Finance Association materials, was among the first tenants to move in after a stay at the Boise Rescue Mission. "The staff are usually busy, but never too busy to stop and say 'hey, how are you doing today?' It's a very welcoming place," he said.

Amenities and Community Features

The building includes a fitness center, covered parking integrated into one story of interior parking, a community room, a large private patio, and a playground. Its location adjacent to Liberty Park and within walking distance of bus service along West Emerald Street provides residents with access to transit and green space.

Public-Private Partnership Model

The project was developed by The Pacific Companies in partnership with Hawkins Companies, a Boise-based landowner. Idaho Housing and Finance Association provided both Low-Income Housing Tax Credits and Workforce Housing Fund financing, while the City of Boise contributed nearly $7 million to help close the gap between construction costs and what below-market rents can support.

The Boise Bench project had been in planning as early as 2022, when it was initially scoped at 201 units before being refined to 193 units in later approvals. The grand opening was celebrated in December 2025, and the development is now fully operational.

The deal illustrates the financing complexity required to deliver large-scale affordable housing in markets where land and construction costs have risen sharply. By layering LIHTC equity, state workforce housing funds, and municipal gap financing, the partnership was able to target households across a wide income spectrum — from those earning as little as 30% of area median income to those at 80% — while delivering a building with amenities comparable to market-rate multifamily product.

Sources

Idaho Housing and Finance Association — "New Apartments, Lasting Affordability" (Sept. 3, 2026)