There is still a great big hole in downtown Boise. The auction to sell the property did not meet the $2.18 million minimum bid set by Robert Capps, CEO of Capps Holdings LLC of Tahoe City, Calif., who turned out to be the only bidder.

So Capps still owns a hole.

The property, which has sat vacant since the mid 1980’s, has changed hands several times since 2001. Most recently developer Gary Rogers’ company Charterhouse planned a 31- to 34-story tower for the site but defaulted on the loan that was secured to purchase the property. Charterhouse filed for bankruptcy in August 2007 on the eve of foreclosure and Capps bought the $2.57 million loan provided to Charterhouse by Alpha Lending LLC.

The property was supposed to go to the highest bidder according to Capital City Development Corporation as the result of a bankruptcy judge’s ruling that had given the go-ahead for the downtown Boise property at 8th and Main streets to be sold. But no one out bid Capps and now the property is all his.  He has no immediate plans on what he is going to do with the property.