Perhaps the greatest stealth remodel in the history of the Wood River Valley will begin next month at the 192-unit Balmoral Apartments complex in Woodside subdivision in Hailey.
Completed in 2002, the 18 two-and-three-story buildings at Balmoral will get an interior and exterior $8 million upgrade. Dominium Inc., the owner/manager of the property since 2014, plans to pull it off with minimal inconvenience for its tenants.
A 494-square-foot clubhouse expansion of the Balmoral footprint, approved Monday, triggered a design-review application that led to a presentation by Dominium developer Russell Condas to the P&Z Commission on Monday.
“Our company is signing up to be the owner of Balmoral for the next 15 years,” Condas said.
The company plans to complete exterior and interior renovations of all units from June 1 to Dec. 31, also reconfiguring a garage to create a maintenance/bike storage garage, restriping and improving parking stalls for the disabled, improving landscaping, and residing the buildings.
Site improvements will include the creation of 40 additional parking spaces, new site lighting and construction of two new bus shelters and sidewalks. About 200 students live at Balmoral, said Community Development Director Lisa Horowitz.
Condas said Dominium specializes in “occupied rehabilitation” projects and owns and manages 34,000 apartments in 23 states.
The majority of residents will not be displaced while their homes are rebuilt around them. Crews will be tracked by a secure door-lock system from 8 a.m. to 5 p.m. and leave the units under construction habitable and clean each night, Condas said.
A contingency fund will provide for hotel stays up to one month for some disabled residents, he said.
‘This is an enormous project. You guys really have your act together,” said P&Z Commissioner Owen Scanlon.
All rents at Balmoral are restricted and vary, based on area median incomes. All tenants earn 60 percent or less than the county’s area median income of $58,835.
Condas said rents will not increase as a result of the remodel, due to federal restrictions.
In other Hailey news:
• A McDonald’s restaurant design review public hearing was continued to May 20, due to a lack of siding materials for examination.