VICTOR, Idaho — On April 24, Victor City Council voted to amend its agenda and moved to continue the Sherman Park development public hearing to Wednesday, May 8 at 7 p.m.
The development aims to create 90 units across four three-story buildings on more than three acres at the corner of Baseline Road and Agate Avenue. There will be 55 units aimed at housing residents who fall in the 80-120% Area Median Income (AMI). Thirty-five of the units will be rented at market value.
Many Victor residents have voiced public opposition to the project, stating that the units do not provide truly affordable housing.
City Administrator Jeremy Besbris told Buckrail that the community will appreciate the project’s set unit rates as the community grows exponentially in years to come.
“The lease and AMI restrictions are for the duration of 99 years, so as we continue to see homes appreciate, the rental prices must stay in the affordable range for 80-120% AMI (30%),” Besbris said. “In mountain communities like Victor, housing prices often experience exponential growth due to a combination of factors. These include strict land use regulations aimed at preserving natural habitat, large areas of undevelopable public land and substantial demand for both short-term rentals and permanent housing. This convergence leads to a shift from gradual price increases to rapid exponential growth over time.”
The Design Development Plan and Lease Option Agreement for the Sherman Park housing project were approved on March 13 by the Victor City Council in a three to one vote. According to Besbris, the essential terms of the project — the number of units, AMI restrictions and height maximums — have already been approved. Next week’s public hearing is intended to focus on the Development Agreement (DA).
“The rezone was approved subject to the Development Agreement (DA) approval, so whether the land should be rezoned is not at issue – that’s been decided,” Besbris told Buckrail. “Instead, the issue is the overall sufficiency of the DA, and specifically for the council and the public, whether it sufficiently addresses the conditions of approval.”
The Sherman Park DA states that a DA is a contract between the land developer and the local government, which outlines certain land use approvals and restrictions. These restrictions encompass conservation requirements (such as water reuse), provisions for roads and other infrastructure, open space and workforce housing. The public still has an opportunity to comment on these restrictions during the public meeting.
Besbris said that the Sherman Park project complies with the City’s building codes and design standards.
“We absolutely want this to be a beautifully designed project and are confident that this project hits that mark,” Besbris said. “Multifamily and commercial projects in the city are generally subject to design review, but this project created unique financial constraints and financing deadlines, which is why it went through a slightly modified process.”
Design considerations have been dictated by the project’s restriction to a three-acre triangular shaped property. Additionally, parking spaces are required for 61% of the total number of units, which are AMI restricted.
According to Besbris, some members of the community expressed concern that the design review was only performed by the city council. Therefore, the council president has requested that the Planning and Zoning Commission hold a design review hearing, which is scheduled for June 9 at 7 p.m. at the Victor City Council Chambers.
This project’s financing deadline is on December 31, 2024.
Community members can continue to contact the city staff with questions and send in public comment.
