Do you want to know what’s happening in the eastern Idaho business scene? We’ve got you covered. Here is a rundown of this week’s business news across the valley.
BIZ BUZZ
IDAHO FALLS
Here’s what’s happening with three construction projects in Idaho Falls
IDAHO FALLS – Multiple construction projects on the west side of Idaho Falls will accommodate the city’s growing population.
Among them is a hotel project on Utah Avenue between Walmart and Panda Express. A representative with with CMI, the contractor building the hotel, has declined to offer details to the media about the project.
The building is owned by TKo Hospitality in South Dakota, and construction seems to be winding down.
EastIdahoNews.com initially reported on this in 2020 before the onset of the COVID-19 pandemic. At that time, it was owned by a different company and was slated to become a Staybridge Suites hotel with 92 rooms. Contractors were originally aiming for a summer 2021 completion date.
RELATED | New hotel under construction in Idaho Falls
After multiple setbacks and delays, the project is now nearly complete. EastIdahoNews.com hopes to have more information on this project soon.
Meanwhile, a housing project at 1385 Snake River Parkway near Guns N Gear is less than a year away from completion.
Jory Deuel, the project superintendent, tells EastIdahoNews.com the five-story building is a high-end apartment complex called The Reverie with 92 units. Most of the units will be one-bedroom apartments, but there will also be some studio and two-bedroom apartments. It will have a gym, hot tub and other amenities.
“It’s going to be higher end than a lot of the other apartments around here,” Deuel says.
The project got underway in October and is slated for completion in March 2026.
The influx of people to the area in recent years has created an increased need for additional housing, and that’s the driving force behind this project.
Deuel says two units on the west side of the building will be completed first for people to see. The application period for renters will open after that.
A third construction project, another four-story hotel at 651 Pancheri Drive directly behind Candlewood Suites, will be complete before July 4 next year.
Dallen Barney, the superintendent for Pentex Builders — the building contractor — says it’s a Fairfield Inn & Suites. It will have 87 rooms.
“The other Fairfield (location) over by Walmart — they’re changing it to something else and this one (will replace it),” Barney says. “It’s an upgrade and has a good view of the river.”
Construction got underway in October around the same time as The Reverie apartments. It’s the site of the old King B Jerky plant. King B was torn down to make room for the new hotel.
RELATED | How a local company became one of the leading meat snack producers in the nation
Barney says tourism has been on the rise since the COVID-19 pandemic, and that’s the primary reason for the new hotel.
He looks forward to seeing the project completed.
BIZ BITS
New regional president hired at WaFd Bank for Idaho
IDAHO FALLS – WaFd Bank is pleased to announce the promotion of Reid Wiggins to the position of regional president, business banking division at WaFd Bank for Idaho.
In this new role, Reid will lead strategic growth, financial performance and community engagement across Idaho. This includes managing business and branch banking teams, overseeing loan and deposit portfolios, driving revenue, and serving as a statewide representative of the bank across 20 WaFd Idaho Region branches. He will oversee community partnerships to support WaFd’s mission of relationship-based banking.
Reid previously worked in commercial banking for 21 years, with the past 17 years at WaFd Bank, most recently as the Idaho Commercial Division Manager.
Reid is an active community volunteer and serves on the Boise State Alumni Association Board, the Downtown Boise Association Board and the Mofi.org External Loan Committee, as well as being a past assistant tennis coach at Timberline High School. He was recently nominated for a 2025 Rose Award by Visit Boise for volunteerism.
Reid completed his MBA at Boise State University in 2017. He graduated from Pacific Lutheran University in 2003. In 2024, Reid completed the Stonier Graduate Banking School program. Reid and his family enjoy the many amazing activities available in Idaho: hikes in foothills, swimming at the Natatorium, and summer weekends in the mountains.
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