Idaho Business Review, BridgeTower to include business park
Idaho Business Review, July 11, 2008 — Frank Varriale plans to develop a nearly 100-acre business park at the northwest quadrant of Ten Mile and McMillan roads in northwest Meridian, in his 750-acre BridgeTower mixed-use project. Buildings could range from 3,000 to 5,000 square feet up to 50,000 square feet or larger, depending on site purchases, he said. The park may house lodging and medical enterprises, and office uses ranging from small high-tech businesses to call centers, he said.
Meridian planners want developments in the city’s northern area to include a mix of residential and commercial uses, and open space - so people can work, recreate and shop near home and cut down on driving, Varriale said.
“We believe in what Meridian is trying to do,” he said.
City leaders’ vision for north Meridian and the developer’s plans for BridgeTower evolved since work began on the project about five years ago, Varriale said. He heads Primeland Development Co. LLP and Varriale Construction Inc., both based in BridgeTower.
Associate City Planner Bill Parsons said Varriale requests that Meridian approve a Comprehensive Plan map change from medium-density residential to mixed-use, and a modified development agreement. Parts of the site near the intersection already are zoned for general commercial and light office use, he said.
Varriale said he plans to develop condos attractive to the senior market on more than 20 acres south of the business park site.
He envisions a village-style mix of standard and specialty retail, restaurants and high-density housing on 30 acres in the southwest quadrant of Ten Mile and McMillan. It would feature a creekside greenbelt, city-style streetscape and a two-story building that could offer second-story residential space, he said.
BridgeTower’s commercial offerings on the east side of Ten Mile include about 30 acres for general commercial space at the northeast corner, and about 20 acres of general commercial space at the southeast corner, where some buildings are completed.
Businesses planning to occupy the northeast quadrant of the intersection include a St. Luke’s family physician group and a Fast Eddy’s Chevron convenience store, he said.
Other businesses planning to occupy BridgeTower include Italian restaurant Gino’s, The Mercato Coffee House and a State Farm Insurance office, all in the southeast quadrant of McMillan and Ten Mile, he said. A grocery retailer looks to build a stand-alone store at the northwest corner.
Varriale put residential lot development on hold about a year ago. Now he plans to make another 55 lots available by year’s end, he said. BridgeTower has been selling four to five lots a month recently.
“We’re very pleased considering where the market is today,” he said. “We’re not in panic mode. We’re moving forward.”
BridgeTower did not allow over-exposure to out-of-state investors, and had “very few” homes later marketed for rent, Varriale said. BridgeTower is home to about 800 families, and would be at about 1,500 at full build-out, he said.
“When we look at what we have to offer and the position we are going to be in, we are going to be well positioned to move ahead with the economy as it swings into a more positive direction,” he said.
