Updated: Feb 17, 2020
Article first appeared in Idaho Business Review on February 6, 2020. By Sharon Fisher
The River Falls Opportunity Fund, managed by Cornerstone Commercial Investments, is run by a father-son team, John M. Nichols and John Steven Nichols. The company has two Opportunity Zone 12-plex workforce housing projects and is working on a third.
“They solve a big problem in areas that are growing,” John S. said. “All these people have to live somewhere,” John M. agreed.
Father and son
The newest project is a 54-unit complex of four 12-plexes and one 6-plex, John S. said. The design, called “mountain modern,” rents in the $900 to $1,150 range. The most recent project is slated to begin construction this spring, with a 12- to 15-month build time, John M. said.
Completed projects have been received well, John S. said.
“We only have four left, and they’ve only been out for three weeks, in the middle of winter,” he said.