Friday, May 2, 2008

The Village at Hailey Center underway

Final phases will depend on market conditions

Express Staff Writer

The first phase of The Village at Hailey Center development is under construction on the corner of River and Pine Streets in Hailey. The three-story mixed-use building will provide commercial and office space and a high-end residential unit. Completion is expected by December 2008.

Paul Kenny of Colliers International Real Estate Brokers, representing developer Jon McGowan of FAPO Holdings, said three more buildings are planned over the next 10 years. When completed, The Village at Hailey Center will fill nearly the entire city block between Main and River Streets, and Pine and Walnut Streets.

Underground parking and courtyards are planned for the site, which currently is home to several 1940s-era Forest Service buildings. These buildings will be relocated.

Phase one, under construction, will have space for a 4,500-square-foot restaurant, retail space and professional/medical office space.

Kenny said the timing of construction of the final three phases of the development will depend on future real estate market conditions.

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