Property: Seasons at Meridian
Developer: Morgan Stonehill
Location: Meridian, Idaho
Property type: Garden-style
Cost: $100 million-plus (Phase 1)
Las Vegas-based real estate developer and investor Morgan Stonehill has made its first move into the Idaho multifamily market with the start of construction at Seasons at Meridian, a two-phase multifamily development in Meridian, Idaho.
The first phase, which broke ground in January, will consist of 360 apartment units across 10 buildings arranged around an open-air courtyard. The exterior design and materials are inspired by traditional farmhouse architecture with modern aesthetic elements, created in homage to the local area’s agricultural roots, according to a press release shared with Multifamily Dive.
The units will range from studios to three-bedroom apartments between 488 and 1,328 square feet in size. The property will include over 30,000 square feet of amenity space, including a pool, park, community garden, fitness facility, barbecue areas and a 10,000-square-foot clubhouse. Direct pedestrian access will be available to nearby commercial areas, as well as parks and landscaped trails. Completion is expected in the second quarter of 2025.
Seasons at Meridian is also the first Idaho project for Newman Garrison + Partners, the development’s Costa Mesa, California-based architect.
“We are thrilled about our expansion into Idaho, an area that has long been an attractive market given its incredible lifestyle, great climate, reasonable cost of living and natural beauty,” said Kevin R. Newman, CEO and creative director at Newman Garrison + Partners, in the release.
Idaho’s population has grown by nearly 350,000 over the last 11 years, according to U.S. Census data, while Meridian in particular has seen its population nearly double over the same period, up from 75,000 in 2010 to 126,000 in 2021.
“Idaho has experienced explosive growth in the past several years amid an influx of new arrivals from California and the Northwest,” said Newman.
Seasons at Meridian II, currently in the concept design and entitlement phase, is expected to add another 351 units across four buildings and 100,000 square feet of common space, according to the Newman Garrison + Partners website