The Currents at Atlas Waterfront Will Bring 104 Workforce Homes to Coeur d'Alene

COEUR D'ALENE — The last phase of Atlas Waterfront in Coeur d'Alene now has a name and a clearer plan: The Currents, a neighborhood of about 104 owner-occupied homes on roughly 10 acres, intended for households earning about 80% to 120% of the area median income. ignite cda, the city's urban renewal agency, is leading the project. The Coeur d'Alene Press reported the details on Nov. 13.

"The Currents is a fitting final chapter in the transformation of the Atlas Waterfront, representing the culmination of years of teamwork, planning and a shared vision for the Atlas mill site," ignite cda Executive Director Will Osborne said in a press release.

Who the homes are for

The neighborhood is meant for the people who keep Coeur d'Alene running, including teachers, nurses, firefighters, tradespeople, hotel and restaurant workers and young families who have found buying a home out of reach. ignite cda and the Press both note that 68% of the people who work in the city now commute in from outside its borders.

Buyers will live in the homes as their full-time, primary residences, not as second homes, rentals or vacation rentals. The homes will not be designated as low-income or Section 8 housing.

Deed restrictions and a shared-equity resale formula will allow owners to keep a share of any increase in the home's value while limiting the sale price for the next eligible buyer. The terms are designed to keep the homes attainable from one owner to the next.

What The Currents will look like

Plans call for single-family homes, cottages, twin homes and townhomes around a park, with walking and biking connections. The rendering above shows the planned neighborhood beside Atlas Waterfront Park.

The Currents will be part of the Atlas Waterfront master homeowners association and will also have its own HOA. Homeowners will be responsible for meeting association standards, including rules for exterior maintenance and outdoor storage.

How it is paid for, and what happens next

The Atlas sawmill closed in 2005 after about a century of operation. The city bought the property in 2018 and worked with ignite cda to redevelop the site and preserve about 4,000 feet of waterfront as public parkland. When Atlas land sales brought in more than projected in 2018, ignite cda used that opportunity to dedicate the final phase to attainable homeownership.

ignite cda will use Atlas District land-sale proceeds and tax-increment financing to prepare the site. Private builders, under contract with the agency, will build and sell the homes at attainable prices. No new taxes or subsidies from neighboring property owners will support the project. When the district closes, on or before 2038, the city, county, school district and other taxing districts will receive their regular shares of property tax revenue from the added value. ignite cda's project page lists planned completion around 2032.

Site work is well underway, and vertical construction is expected to begin by mid-2027. Developer proposals were due Oct. 30. ignite cda expects to announce the selected developer after Nov. 30.

Treasure Idaho first covered the plan in September as Atlas Mill Phase 3 Adds 100+ Attainable Homes in Coeur d'Alene.

More on Atlas Waterfront and Coeur d'Alene homes

See the Atlas Waterfront community, the Coeur d'Alene city guide, browse new home communities in Coeur d'Alene, check homes for sale in Coeur d'Alene, or read more Coeur d'Alene growth news. Thank you for reading Treasure Idaho.