City Booming With Multifamily Complexes SanTan Sun News

City Booming With Multifamily Complexes

January 18th, 2019 | by SanTan Sun News
City Booming With Multifamily Complexes
Business
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By Colleen Sparks

Managing Editor

Anyone looking for an apartment in Chandler before they are ready to buy a house has plenty of choices – with more on the way.

Chandler saw 3,200 multi-family housing units recently completed in the city and about 2,000 units are under construction, according to Micah Miranda, city economic development director.

The city had 28,690 apartments, townhomes and condominiums already built as of last May, city planner Susan Fiala said.

Multi-family units can be apartments, townhomes and condominiums available either to rent or buy.

“We experienced a swell in multi-family development,” as did the whole Valley, said city Planning Manager David de la Torre. “We’re trying to narrow down where multifamily can be built and we’ve pretty much exhausted most of the locations for multifamily south of the 202 freeway.”

De la Torre said the city expects most of the future multi-family housing units to be built in the north side, downtown and in older parts of the city.

Several new apartment complexes were heighted stops on the economic development bus tour held last month by the Chandler Chamber of Commerce.

Many of the new units are described as “luxury” and de la Torre said the city is “definitely seeing very high-end developments.”

One relatively new complex, Alta San Marcos at 445 W. Chandler Blvd., offers “elegant and uniquely designed one, two and three bedroom apartments,” according to its website.

A two-bedroom apartment is listed at $2,545 per month and a one-bedroom apartment at $1,354, but various floor plans and prices are available.

A project with 262 apartments called San Marcos Living is proposed west of Dakota Street and south of Chandler Boulevard near Commonwealth Avenue.

The city Planning Department is doing an initial review and after that, the project will go to Planning and Zoning Commission and later City Council, city spokesman Jim Phipps said.

If the developer starts construction this year, it probably would not be finished until sometime next year, Phipps said.

The city released a list of 20 multi-family developments pending zoning approval or under construction in the city as of Jan. 8. However, de la Torre said it was possible the status of some of the projects had changed.

He said “updating the status and expected year of completion for each development would be very time consuming and we’re currently short two staff positions (out of five) so we are not able to update the status at this time.”

“We’re still maintaining the same review times and they’re still moving forward,” de la Torre said. “We’re super busy.”

Many of the multi-family listings are advertised online and say people can rent or buy the units today.

One of them, Artisan Village at Gila Springs at 300 N. Gila Springs Blvd., lists its townhomes priced at slightly over $200,000.

The townhomes “offer a great value” and the “three story homes feature a large great room/kitchen combination that’s ideal for entertaining.” They also have a balcony off the master bedrooms providing “scenic views” and a loft area that could serve as “an extra bedroom,” the website said.

The city lists the Artisan Village at Gila Springs as “existing/partially constructed,” meaning it’s possible more townhomes will be built.

Jefferson Chandler luxury apartments at 3950 W. Chandler Blvd. is advertising up to four weeks free rent.

“Jefferson Chandler raises the bar in apartment living,” and provides “easy access” to downtown Chandler and Price Road, specialty shops and downtown restaurants, its site says.

The 283-unit complex on 11 acres is described as “a desert oasis embracing all that is modern and accessible luxury” that will include a dog park and dog wash, a putting green, a resort-style pool and 24-hour access to package lockers.

Multi-Housing News last year said Jefferson Chandler and other developers were taking advantage of Chandler’s economic resurgence, especially along the Price Road Corridor.

“This has led investors and developers to be bullish on what has begun to be known as ‘Silicon Desert,’ an area where rents have grown exponentially in recent years,” the news site said.

A one-bedroom and one-bathroom apartment that is 775 square feet is listed from $1,350 and a studio/one-bathroom apartment of 569 square feet starts at $1,075, the website said.

Noria Robson Luxury Apartments at 2177 S. McQueen Road lists units available on its website. Rents vary with one floor plan of a one-bedroom/one-bathroom apartment listed at $1,464 and one model of a three-bedroom/two-bathroom apartment priced at $2,239.

San Valencia Luxury Apartments are “now open,” according to their website.

The apartments at 1450 E. Germann Road provide a “secure, serene lifestyle” with the ‘best assets of the area,” the website said.

Prices vary, but one model of a one-bedroom/one-bathroom apartment costs $1,410 to $1,435 a month, according to San Valencia’s website. One model of a two-bedroom/two-bathroom apartment costs from $1,745 while another is from $2,010.

The Cays at Downtown Ocotillo is holding a closeout sale this month to celebrate the new year and almost $40 million in real estate that has sold thus far.

Anyone who buys one of the last remaining two-bedroom, two-bathroom homes by Jan. 31 and closed by March 31 would get a customized $10,000 closeout incentive tailored to that buyer. The Cays, developed by The Statesman Group, is a $90-million luxury condominium community at 2511 W. Queen Creek Road in Ocotillo.

Realtors think the market will serve newcomers who want to get an idea of what Chandler’s like before buying a home.

“Obviously there’s the people that are moving here and they kind of want to get a lay of the land,” Realtor Tia Coates said. “Then there’s another set of people that know they definitely want to be here because our real estate market is so very healthy. They’re renting so they can buy in the future. It takes time and people that are committed to living in Chandler need to have an option to rent so they can buy in the future.”

Some people rent because they are single and/or young couples or retired widows or widowers that do not want to have to perform maintenance work on homes and yard work, she added.

“I’ve seen several times when a retired widow or widower doesn’t want the hassle of taking care of a home by themselves,” she said.

While it may seem like a lot of apartments and other multi-family units are being built right now, “for decades Chandler didn’t have any sort of multi-family properties in town,” she said. “We’re becoming landlocked and more people want in.”

Coates said sometimes people fear multi-family complex residents will be “transient in nature,” but stressed they’re often people who aren’t ready to buy.

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