Another building in what will be Grand Junction’s largest apartment complex is set to open, but vacancies aren’t expected to last long in an increasingly tight housing market.
The Railyard at Rimrock, 800 Railyard Loop, is a sprawling multi-acre complex with seven buildings of modern apartments. The complex is located just behind the Rimrock Walmart. Residents are already living inside the first building while the second is set to open this weekend. More will open this summer, and there’s a wait list long enough to fill most if not all vacancies.
With 196 units, it’s the largest apartment complex in the city, its property manager says.
“There’s such a need for housing here in Grand Junction. It’s so common for people to rent rooms out of other people’s homes here. I’ve done this in three different states and I’ve never seen a housing market like this before,” said Gretchen Moss, property manager of the Railyard. “All kinds of people are attracted to this place. We have college students to retirees who are done with house maintenance and just want to retire.”
The land once belonged to the family of Gordon Harbert, owner of Western Building Solutions, but it was sold to Anthony Properties, a real estate developer in Dallas. The initial plan was to build another Picture Show location but that never came to fruition. Eventually, Anthony Properties and Nebraska-based Perry Reid properties joined forces to create the complex.
Each building has 28 units. The units have either one, two or three bedrooms. There are three variations to the one bedroom apartments that start at $950, $1,050 and $1,250.
Once the third building is completed, the complex will be fenced off. The two-bedroom apartments run from $1,390-$1,410, while the three-bedrooms start from $1,600. Each resident will start with a 12-month lease and once that is up, they’ll have the option to renew as is, or go to shorter leases. Those prices are higher than the median rent. Pets are also welcome with a deposit and a added fee.
The apartments come with the works. You get a washing machine and dryer and a kitchen. The apartments come with a neutral-colored carpet, countertops made from recycled glass and picturesque views of the surrounding mountains.
Central to the property is a clubhouse that features a gym, pool, tanning bed, a forthcoming pet area and shared spaces for the residents.
“This is a very central location and we’re meeting such a need here. Another advantage we have is our amenities,” Moss said. “There aren’t a lot of apartment complexes that have the 24-hour gym, the community space, the swimming pool, the tanning bed, the fireplaces that we have.”
Moss also thinks that establishing the essence of community will be key to making the Railyard successful. She said that they expect to receive the go- ahead to host resident events in May.
That could be key for people who just want an apartment and aren’t looking for a new home, or to settle down in a suburban neighborhood.
The housing market is tight in Grand Junction with homes being bought up almost as quickly as they’re put on the market and Harbert said that isn’t going to change.
“People don’t want things to change but the change is already here. People are moving out of New York City, Los Angeles, Phoenix, what have you and heading for places like Denver,” he said. “Then those Denver people are moving here and realizing how great this place is. So we need more housing for them.”
Article Source: The Daily Sentinel