Spec building in E. Idaho

Tools

Story Published: Oct 30, 2008 at 6:19 PM MDT

Story Updated: Dec 18, 2008 at 4:00 PM MDT

By Rick Montañez

Video

AMMON - There's no doubt the economy is slowing nearly everything down, including commercial building.

While we see new restaurants and hotels being built in east Idaho, we've seen fewer spec buildings. That's where contractors build commercial space without someone ready to move in.

In a way it can be a good thing, but it seems like its only a good thing in Eastern Idaho.

In terms of commercial building, last year in Bonneville County there were 15 permits, this year there are 22.

As the Economy around the country continues to crumble. More people are moving to east Idaho to build up their bank accounts.

"We came here because the opportunity," says Craig Hilbig, a builder from Boise. "I was actually moved here from Boise because the opportunities we saw here," says Hilbig.

They saw the opportunity to keep building. The company even continues to throw up structures like the one on Hitt Road in Ammon.

"Rick:Is it one of those, you build it and hope people call you?
Craig: Yeah, you can look at this as a spec."

Basically, not all the space available is filled.

"It was definitely a lot easier in the past," says Hilbig.

So they're slowing the process down instead of stopping altogether.

"You could do more spec building and expect it to fill quicker," says Hilbig. "Things are slowing down a bit, as far as national tenants."

But Hilbig tells me, local companies are very interested.

"We're the landlord, we're the owner," says Hilbig.

So they'll keep working until the space is filled.

To start building a spec project, people like Hilbig, more than likely, need to finance it. Which is why its may be harder for these builders to keep making them, and that comes from the struggling financial industry.

Current Weather

Current Temp 26.0 °F

Fair

Video

More Weather

Current Weather

More Weather

Upload directly from your mobile device.

Learn how

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.