Wanted: Buyer for 125-apartment development near BSU campus

Boise developer Greg Ferney envisioned an apartment complex at the site of a former health club near the Boise State University campus.

His Storage Development company drew up plans for a four-story, triangular-shaped building with 125 apartments at 1250 S. Division Ave. Ferney modified his design to appease neighbors and won approval from the City of Boise.

Now he’s looking to sell the property and the development rights. But Ferney isn’t saying why.

Colliers International has issued a call for offers for the project at the site of the Park Center Health and Racquet club.

The offering lists a sale price of $4.5 million for the 2.9 acres of land and development rights. That equates to $36,000 per apartment, according to the listing. Offers are due by 5 p.m. on Sunday, Oct. 4.

The property is owned by Bay Shore Oil Company of Huntington Beach, California. An affiliated company, D.D.

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