Sedona AZ
Real Estate

Sedona AZ meditating on First Multifamily Development Since 2007

(Source: AZBex): Roland Murphy – Better known for New Age retail, art galleries, scenic vistas, tourist lodging and single family/vacation housing, Sedona AZ is considering a proposed 45-unit multifamily development on West SR 89A.

If the necessary approvals crystalize, 89A Apartments will be the city’s first multifamily development since 2007.

The Sedona Planning and Zoning Commission held a work session last week in advance of a planned Sept. 19 hearing.

The developer, MK Company, Inc., has requested a Major Community Plan Amendment to the Future Land Use Map and a zoning change for the vacant 2.26-acre parcel, switching its designation from Commercial to High Density Multifamily Residential. Criteria under review include walkability, buffering from surrounding commercial and residential areas, and the preservation of open space along the highway. Currently, the parcel is primarily used for construction equipment parking and storage.

According to the developer’s application materials, Sedona’s 391 apartment units have nearly 100 percent occupancy. It claims, “The lodging and tourism growth of Sedona over the past two decades has left the community short of appropriate rental housing for the local workforce and Sedona residents.” Elsewhere in the application, MKC notes multifamily residential makes up approximately 4 percent of the city’s housing and about 2 percent of its planned land use.

Addressing the need for such a development, the company claims Sedona’s most recent apartment complex was completed in 2007. “The balance of the apartment communities are 20-35 years old and in very short supply,” it says. “Providing rental housing is essential for residents in the community who cannot afford to purchase or (choose) to rent. The current vacancy of apartments is less than 1 percent… The business community must have adequate housing options for workforce and residents which is not satisfied with a vacancy rate of less than 1 percent.”

The 45-unit complex will feature a two-story walkup configuration with one- and two-bedroom units in multiple buildings, which the developer claims will serve as a transitional space between surrounding land uses. Approximately a quarter of the units will be one-bedroom “studio” sized.

Planned amenities for the complex include bicycle storage, a community pool, an outdoor gathering area with a ramada and fireplace, as well as individual storage spaces and covered parking. Unlike the older apartments in the area, the new development is planned with low flow fixtures, LED lighting, high efficiency heating and cooling solutions, and energy efficient appliances to minimize both environmental impacts and residents’ utility costs.

MKC hopes to start construction sometime in Q2 of 2018.