Falcon’s Landing

Location
Mountain Home, Elmore County, Idaho
2nd Congressional District

Problem
Rural communities often struggle with a lack of affordable housing as demand outpaces development, driving up costs and limiting options for low-income residents.

Solution
RCAC’s Loan Fund provides critical funding to help expand affordable housing in underserved areas, like Mountain Home.

Mountain Home, Idaho is a small city of about 16,000, sitting on the outskirts of the Boise metropolitan area. Boise itself is undergoing a growth spurt, which has had a ripple effect on neighboring communities like Mountain Home and resulted in soaring housing costs and a skyrocketing demand for affordable housing in an area where development has been slow to catch up.

Falcons Landing, the first major affordable housing development in Mountain Home in over two decades, arrives at a critical juncture. With the town’s median income of $53,108 trailing far behind Boise’s $68,373, housing has become increasingly out of reach for those who sustain the local economy.

Boise-based nonprofit LEAP Housing is taking direct action to tackle these challenges head-on with the launch of Falcons Landing. The first phase of the development will bring 60 new housing units to the community, 48 of which are specifically designated for low-income families. Prioritizing sustainability, the development will feature energy-efficient buildings, landscaping with native Idaho plants and connections to the city’s pathway system for active living and alternative commuting, as well as plans to partner with local health organizations to ensure residents have direct access to essential services.

Transforming Falcons Landing from concept to reality required substantial financial backing. That’s where RCAC’s Loan Fund stepped in. RCAC provided $11.1 million in construction financing, a lifeline that kept the project moving forward while LEAP waited for permanent funding through Low-Income Housing Tax Credits.
RCAC’s commitment extended further, contributing about $336,000 to LEAP through its Capital Magnet Fund, further ensuring the project’s long-term affordability and sustainability.

“RCAC has been instrumental in navigating the complexities of financing in rural Idaho, ensuring we have the same opportunities as urban areas,” said Zeb Moers, director of development at LEAP Housing. “It’s our first major partnership with a funder truly dedicated to supporting rural Idahoans.”