CALDWELL, Idaho — Two side-by-side endowment land parcels near Vallivue High School and Middle School are going up for auction. The parcels amount to 282 acres and are mostly unused, but are in the direct path of growth in Canyon County.
The University of Idaho has leased the parcels for agricultural purposes since the 1940s, but the University would rather have the property auctioned for residential development, according to a news release. The parcels were designated to benefit U of I and are managed by the Idaho Department of Lands.
The State Board of Land Commissioners agreed to the auction after determining it would bring the highest financial return to the beneficiary.
“This proposal makes sense because right now the land is no longer supporting the University’s research facility and the revenue generated from the farm lease is nominal,” said Josh Purkiss, Idaho Department of Lands Real Estate Services Bureau Chief. “With the current high demand for land and the prime development nature of these parcels, this has the potential to be a very exciting auction for the endowment beneficiaries.”
The parcels are designated for low-density residential use in the City of Caldwell's Future Land Use Map, according to the release. Bidders must have $250,000 per parcel in cashier checks to qualify to bid at the auction.
The release says the auction will be held on June 11 at the Marriott Courtyard in Meridian. For more information, click here.