Those over the age of 62 will have a new option for subsidized housing.
After a long recession, Cottonwood residents are again becoming used to developments popping up around town: Increased construction can not only provide greater businesses opportunities and housing options, but stand as a symbol of an improving economy.
“The calls and feedback I’ve received from the public has been heartwarming and uplifting,” stated Tashana Yamashita, community manager of Aspen Ridge Apartments, developer of the Highland Square Senior Apartments along Mingus Avenue where the historic Clemenceau community once stood. Aspen Ridge Apartments properties are managed by Guardian Real Estate, located in Oregon.
“You can hear the excitement and relief in their voices to know a project such as Highland Square is under way,” Yamashita continued. “The amount of people I speak to is on the larger side. The one constant that I hear is how this affordable housing is just what Cottonwood needs for those unable to afford conventional, market-rent rates.”
According to Yamashita, who handles all inquiries and applications, Highland Square will be of a “decent size” — 60 units, three stories high, with both one- and two-bedroom units.
“I believe the Verde Valley Manor is the only other property under the same program [Rural Development: 62 and older or disabled],” Yamashita explained. “The Manor has a total of 232 units ranging from 445 to 790 square feet, whereas Highland Square will have a range from 737 to 950 square feet. All units will have rental subsidy.”
According to Yamashita, it’s clear that this type of housing is scarce in the Verde Velley. Having access to low-income housing such as Highland Square holds the potential to help the community fill a need.
In addition, as Yamashita revealed, the development marks the end of an era:
“Highland Square will be the last newly constructed Rural Development property in the country to receive subsidies for all 60 units.”
By Yamashita’s estimation, the investment has already proved itself sound: The project is due to be complete in August, but there is a chance developers may finish sooner, “as things are running very smoothly” from both a construction and leasing standpoint.
“Since August, the number of inquiries has been beyond successful,” Yamashita stated. “We receive roughly 30 voicemails per week. As of today, I feel comfortable stating we will be 100 percent leased by opening day.”
