Prescott Valley apartment complex expanding by 68 units
PRESCOTT VALLEY - The Glassford Hill Apartments, which opened two years ago, will expand from 150 to 218 units to meet the need for more rental housing.
"Right now, we have a demand for a few more apartments," said Edward Ruwaldt, operations manager at the complex at Glassford Hill Road and Spouse Drive. However, he added, "We do not want to flood the market."
He said the 68 additional units will contain a mixture of one- and two-bedroom apartments but will have more one-bedroom units because all the existing one-bedroom units are being rented.
The existing complex contains both one- and two-bedroom units.
Ruwaldt is the son of Ed Ruwaldt, who owns the apartment complex in a partnership with the Fain family, of Prescott Valley.
The Town Council gave the owners the green light May 24 by approving a minor amendment to the General Plan allowing construction of the units on five acres west of Lone Cactus Drive between Spouse Drive and Santa Fe Loop Road.
Construction of the new apartment units will begin later this year or during the start of 2008 "if we are lucky," the senior Ruwaldt said. He said he expects construction to take nine months to a year.
Ed Ruwaldt said he has no cost estimates yet. "We have not finished the plans," he said.
The apartment management team consulted current tenants on the expansion plans, Edward Ruwaldt said. In fact, they scheduled a meeting with the renters Tuesday after work, but nobody attended.
The new section will have barbecues and a picnic area, Edward Ruwaldt said.
"We are thinking of putting in a hot tub area," he said.
The existing apartment complex has a number of amenities, including a swimming pool, hot tub, a business center and free wireless access for renters, he said.
Ruwaldt said the management team has not set rates for the 68 units, but indicated that they are likely to be comparable to the 150 units. Rents start at $700 a month for one-bedroom units.
Renters include a number of professional people, the junior Ruwaldt said. Some tenants have lived at Glassford Hill Apartments since the complex opened.
Ed Dougall said he moved from Tucson in May into Glassford Hill Apartments because his family-owned painting business is working on two hotels in Prescott. The painting contractor rented two apartment units for six months for the four-member crew.
"I like it here," Dougall said. "I find it is a nice complex. All the neighbors are great. It's affordable."
Dougall said he "would not mind" working on the additional 68 units.
"We are hoping to pick up more commercial jobs here," he said.
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