During the project that closed down much of 12th Street over the summer and fall, residents could not help but notice the cleared 5.2-acre lot at the northeast corner of 12th and Main streets — a lot that provided nearly 20,000 yards of dirt to the 12th Street Improvement Project itself.
“That was a win-win situation,” Jackson Kinsi Constructors President Bill Jackson said. Though providing the dirt delayed the start of his own project, the free grading of the lot readied it for construction. Now, to go along with a sleek new section of 12th Street, four of the 38 planned 1,100-square foot units of the Ridgecrest Townhomes development are ready for their certificates of occupancy.
“Initially, we’re going to rent them,” Jackson said, but added that this could change over time if the rental market — which he insisted is “phenomenal right now” — alters course.
The cost and associated risk is substantial, especially in the current economy, but Jackson and co-owner Dr. Roy Daniels were compelled by more than profit to begin construction in the heart of Cottonwood. To date, Jackson and Daniels have used only one contractor from outside the Verde Valley. Jackson intends to stay that course, making good on a promise to invest locally.
“It’s definitely a local project — I’m not hiring anyone else from out of town,” Jackson said. “When we’re all built out, we’re probably in the range of $3.5 million. That’s all local money that goes back into our economy.”
Country Bank Branch Manager and Commercial Lender Mark Tufte said that he felt privileged to underwrite large-scale projects such as Ridgecrest, which he explained have a lasting positive impact on the community.
“The project creates construction opportunities for several trades and creates quality rental units at a time when demand is high,” according to Tufte. “The construction industry is an important part of the Verde Valley economy as it provides a skilled workforce with livable wages that can be reinvested back into our community. The units themselves broaden the tax base that the fire districts and school districts are able derive revenue from.
“It’s exciting to see a project of this scope come out of the ground …. There’s a belief that activity can breed further activity. Hopefully this project will encourage other real estate investors to move forward with projects that are good for our community.”
Though varying in layout, Ridgecrest’s duplex and triplex units will feature two bedrooms and two baths, as well as fully landscaped grounds. Jackson assured those interested that the materials used will be high end and modern, making Ridgecrest a symbol of an important new housing option for established residents and those looking to relocate.
“The economy still has some work to do,” Jackson concluded, but reiterated how confident he feels in the community’s ability to fill the planned development.
Tufte agreed, saying, “The project meets a need in the community and represents a positive investment into the growth of the city.”
