Murphy Development Advances Idaho Mixed-Use Project
The future community will include a 3-acre farm.
Murphy Development Co. has purchased two properties in Nampa, Idaho totaling 77 acres. The firm plans to develop a 1,492-unit mixed-use master-planned community along the Highway 16 Corridor. Ground breaking at Nampa Point is scheduled for 2027, Murphy Development Co. Partner Mike Arduino told Multi-Housing News.
“We were drawn to Nampa because of the forward thinking City Staff, Mayor, Planning Commission and City Council”, Arduino added. The Nampa City Council approved the project in June 2025. The site will benefit from the infrastructure as a result of Ustick Road being widened five lanes, Arduino also pointed out.
The development is expected to include a mix of three- and four-bedroom homes across 68 acres. The remaining site will enclose commercial spaces and a 3-acre farm, which will feature fresh-cut flowers, small crops and holiday markets, BoiseDev reported.
The developers called the future combination of residential neighborhood with a farmland component an agrihood, which the Urban Land Institute characterizes as “single-family, multifamily or mixed-use community built with a working farm or community garden as a focus.” Other amenities at Nampa Point will include “a cafe, market and a potential restaurant”, Arduino concluded, aiming to “create the Treasure Valley’s first truly elevated rural living experience”.
Apart from Highway 16, the property will be close to several major thoroughfares, including interstates 84 and 184, U.S. Route 26, as well as highways 19, 44 and 55. The construction of Highway 16 is currently underway, slated for completion in 2028.
National development and investment volume
As of January 2026, there were upward of 450 projects in new multifamily construction across all Western markets, set to add almost 99,700 units to the region, according to Yardi Matrix data. The pipeline included 318 market-rate communities, 113 fully affordable and 25 partially affordable projects.
As for investment sales, the national figure clocked in at $83.2 billion through December 2025, marking an increase from the values recorded in previous years, namely $82.4 billion in 2024 and $69.5 billion in 2023, a Yardi Matrix report shows. During the same month, Western markets produced the lowest capitalization rates, with San Francisco’s South Bay (3.8 percent) and the San Francisco Peninsula closing the list (4.1 percent).
