The Town of Prescott Valley witnessed continued progress on subdivisions in 2003, but also saw the arrival of a major apartment complex, Community Development Director Richard Parker said.
He cited The Terraces at Glassford Hill, authorized for occupancy in September and being built in phases.
"I think the initial phase was 225 units, with a target completion of over 300 units as part of a subsequent phase," Parker said.
Parker's department also released building permits for Universal Homes of Phoenix for an apartment complex with more than 200 units at Glassford Hill Road and Spouse Drive. Like The Terraces, the new apartment complex will have amenities such as a swimming pool, clubhouse, and washers and dryers in each unit.
"These (amenities) are things we had not seen previously in Prescott Valley," Parker said, while adding that marketing studies identified the need for these kinds of apartment complexes in Prescott Valley.
Parker said developers continued to build homes at major subdivisions approved during the 1990s. They started building homes about 18 months to two years ago at Granville (on Glassford Hill Road), StoneRidge (in the foothills south of Highway 69) and Pronghorn (near Viewpoint Drive). Combined with the Viewpoint (off Viewpoint) and Mingus West (off Highway 89A), the subdivisions comprise more than 12,000 lots.
Joe Contadino, president of Granville Development in Phoenix, said his company has completed about 350 homes of a total of 3,400. Granville is being built in phases, with buildout due within 10 years.
"I think with the steady interest rates and the positive factors that this area has, it is going to attract a lot of people," Contadino said. "The Prescott Valley market keeps attracting additional retail support serrvices. "The (Yavapai Regional Medical Center) hospital is under construction. And there is the affordability factor that really attracts people."
By contrast, Parker said he does not foresee large residential development this year.
"However, as the tri-cities work to develop regional water resources, there may be future opportunities for residential development," Parker said,
The Town of Chino Valley continued with subdivision development, while also requiring developers and newcomers to pay their own way, according to Mayor Karen Fann.
For instance, she said the Bright Star (about 1,100 homes) and Chino Hills (562 lots) subdivisions are paying half of the costs for the $8 million sewage treatment plant. Future developments will pay for the remainder of the costs.
Noting that developers may pass on those costs to future homeowners, Fann said the intent is to have newcomers pay for infrastructure, not existing residents.
"We know that Chino Valley is going to grow," she said.
She said the Town Council plans to meet this month to explore "where we want the community to be 20 or 30 years from now."
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