Nampa City Council will hold a public hearing at 7:30 p.m. Jan. 7 (late note: the meeting has been pushed back to February 19th at the same hour) to hear input from the public on whether the city should, through the Nampa Redevelopment Corporation, put up $350,000 toward renovation of the old Mercy Hospital building to be renovated into low-income housing.
The cost of this renovation is estimated to be $7 million, or $150,000 per unit. Financing would come from a mixture of private and government funds. In material I’ve seen published by NRC, a new building could be put up for $100,000 per unit. It also compares with what I’ve heard is $75,000 per unit for new four-plexes being built on Birch Lane.