Other apartment complexes on the way
Supply catching up to demand in Tri-city area
A significant amount of interest has been shown by developers in the last couple of years to build apartment complexes throughout Prescott.
One is a 42-unit complex at 1257 White Spar Road, which would take the place of the former Pine Haven Mobile Home Park. As it stands, the project is in the permit review process and is slowly making its way through, said City Planning Manager George Worley.
Another is a 210-unit complex off Willow Lake Road. Worley recently had a conversation with the developer considering purchasing the property to make the project a reality.
“He’s given us a pretty strong indication that he’s going to submit building permit applications,” Worley said.
Worley doesn’t expect those applications to be submitted until about February or March.
A third development in the works is a 70-unit workforce housing project on Miller Valley Road. Worley believes the developer has acquired tax credit financing through the United States Department of Housing and Urban Development and is now in the design phase.
“They’re probably a little further behind than the 210-units on Willow Lake Road, so I would expect that would come in for permits around the same time or a little later,” Worley said.
Two others projects that would add a total of about 225 more units have been discussed as well.
One of those two has acquired a water allocation but has yet to submit building permits is located near the intersection of N. Montezuma Street and W. Navajo Drive, Worley said. The access would be off N. Bagby Drive. “I’m not sure what their timing is,” Worley said.
The other, a proposed complex just south of the Prescott Gateway Mall along Gateway Boulevard, is a little less certain.
“With that one, we haven’t heard anything from anyone in a while, so I’m not sure if that’s actually moving forward, if they’re waiting, or what,” Worley said.
The most recent project on the radar for Prescott is a 100-unit complex off Lee Boulevard near the Residence Inn by Marriott Prescott.
“They came through our pre-application review process, but we haven’t had contact back with them again,” Worley said.
This is not unusual, he said, for many projects will typically go through the pre-application prior to seeking financing.
Prescott Valley potentially has three apartment complexes on the way.
One that is certainly moving forward is Talking Glass, a 214-unit urban development right across E. Florentine Road from the Prescott Valley Event Center. Construction on that project has already begun. If all goes as planned, it’s expected to be complete by March, 2019.
Another project that appears to be making progress is a 325-unit complex planned for a lot at the intersection of Florentine Road and Navajo Drive. The project’s final development plan has been approved by the town and the developers are currently in the financing stage.
“I believe that one is the one that’s probably going to crack next,” said Richard Parker, the Town of Prescott Valley’s Community Development Director.
A third project that is a little less concrete at the moment is a 109-unit multi-family development proposed for Market Street near Earnhardt Liberty Kia and Comfort Suites.
The development has been approved for financing from the United States Department of Housing and Urban Development, “however, I’m not aware that they intend, at this point, to move forward,” Parker said.
Chino Valley has been experiencing a bit of a housing boom as of late.
To assist with the high demand for housing, two apartment complexes are working their way through the design and development phases as well.
One is a proposed 225-unit apartment complex on Road 2 North behind Walgreens called Hawksnest.
The other is a 150-unit complex right behind Safeway.