With its loan closed as of last week, the 90-unit Sagebrush Apartments project on West Broadway is officially underway.
After “so many bumps in the road,” as developer Joe Rice put it in a news release, developers recently began construction. They hope to have the units online by fall 2021, offering a mix of studio, one- and two-bedroom apartments. About a third will be deed-restricted for local workers.
“It’s been a long road, persistence has paid off," Rice said in the release. “We believed in the project, we believed in housing; that’s what kept us going … Not many others would have kept it going. To see this happen is kind of amazing.”
The project ran into several complications in the pursuit of financing through the Department of Housing and Urban Development. But after the Town Council agreed to several tweaks in the structure of the deed restrictions, they were able to proceed.
“I’m grateful that the developers stuck with this complex project and process,” said Christine Walker, of Navigate Consulting, in the release. “It took a significant amount of time, investment and patience. They could have taken a much easier and more profitable path, but instead chose to help address our housing challenge.”
Walker said she’s unsure how much crews will accomplish this fall, adding that they’re evaluating what work can be done before the snow flies.