By Eric Jay Toll for Arizona Builder’s Exchange
Another blighted downtown Mesa property will bite the dust next month and be replaced with a brand spanking new residential apartment community. The uniquely design El Rancho community will rise four stories above the Main Street light rail tracks not far from a new station. The 66 unit apartment community, 719 E. Main St., is the latest in a series of new housing opportunities in the East Valley city.
El Rancho will put all but two of its apartments on levels two, three and four, and the ground floor will be used for under-building parking and community facilities with a retail façade. Developer Community Development Partners, LLC, Newport Beach, Calif., plans to use the common areas for community events, art opportunities, and tenant activities.
Perlman Architects of Arizona, Inc. designed the new building, which will replace an abandoned single level motel. Icon Builders is GC for the project. The developer is looking towards a May groundbreaking and about a 12 month construction timeline. Tenants should be moving in just about the same time the light rail extension is open for passengers.
In addition to the community area, tenant services will be offered, after school child care is to be available, and a playground and pool are among the apartment amenities.
“We’re looking at a $13.6M total project,” says developer Eric Paine for Community Development Partners. “That includes land and soft costs. The construction cost is about $9M.” The project will be leased at affordable rents, although Paine says that the difference between market and affordable in that area of Mesa is pretty close.