Tuesday, October 21, 2014

Clovis City Council OK’s largest apartment complex in a decade

Source: The Fresno Bee
By Marc Benjamin The Fresno Bee
October 20, 2014

An apartment project that is the largest approved in Clovis in 10 years was supported by Clovis City Council members Monday night. The vote was 5-0 with no public opposition. The plan for 144 units that can be converted to condominiums is near the corner of Dakota and Clovis avenues, east of the city’s recreation center and old winery site. Under city guidelines, the property could have handled twice as many apartment units, said Laurie Doyle, vice president of development for Clovis-based Regal Development Group. She said the developer held two neighborhood meetings where traffic was a focal point, but there were no other significant concerns raised by neighbors. All the apartments will be single story, Doyle said. An office/recreation center with a manager’s unit is the only two-story building on the 19.6-acre property, she said. The plan includes the flexibility to become a condominium development, which is allowable under city guidelines, said Robin Kane, a Fresno apartment investment adviser. Kane said the local condominium market is sporadic in the Fresno area. It was strong about 10 years ago and in the early 1980s and could improve again, depending on the rise of housing prices. The Montage condominium development, approved by the Clovis City Council in 2005, had 255 units proposed, but only 81 have been built, city officials said. The last apartment complex approved that was larger in Clovis was the 178-unit Copper Beech project on Gettysburg Avenue and Sierra Vista Parkway in 2004.

URL to original article: http://www.fresnobee.com/2014/10/20/4189505_clovis-city-council-oks-largest.html?rh=1#storylink=cpy 

For further information on Fresno Real Estate check: http://www.londonproperties.com

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