Governing Board is told that no student, faculty member, firefighter, police officer, or medical person signed up for fall semester apartment or single bedroom; College will end project unless there are sign-ups for winter semester; high price, timing are blamed for initial failure
The Yavapai Community College Prescott-based executive team, in collaboration with Fain Signature Group, a Prescott Valley housing developer, kicked off in June a project apparently aimed at providing Verde Valley/Sedona Center faculty and students with housing options at little cost to the College. It had Governing Board approval and is part of a workforce project being pushed by the College. The project centered on an apartment complex being constructed by the Fain Signature Group in Cottonwood, Arizona about two miles from the Verde Valley Campus and about 15 miles from the Sedona Center.
This venture involved the College leasing 10 apartments in the complex from the developer. Then, renting the leased apartments back to students, or leasing bedrooms of each apartment to different students at the builder’s rates. A two bedroom apartment rents for $1,900 a month; a three bedroom for $2,100 a month. (Note chart below.)
It came as a surprise to many, including the Blog, that the College was not subsidizing any of these units for students or faculty members.
The College initiated its efforts to rent these apartments to Verde Valley/Sedona faculty in early June, and then in later June to students. It was hoping to cater primarily to students and faculty. Unfortunately, the response was less enthusiastic than expected. In an attempt to broaden their target audience, the College then extended the scheme to include local firefighters, police officers, and medical personnel, with the idea that they would share the apartments with students or faculty members.
Despite the initial interest shown by a handful of individuals, none have committed to the idea thus far. This includes students, faculty members, local firefighters, police officers, and medical personnel. It’s clear that there are significant hurdles to overcome in making this concept a reality.
The College plans to intensify its marketing efforts in the coming months. If there is little success by January 2024, the College intends to abandon the plan.
One key obstacle faced by potential tenants is the high cost associated with these apartments. The rental rates are notably steep for students and working class individuals. Another obstacle is that the apartmens cannot be leased out as B&B’s if they do not rent. Or are vacant for several months.
The following is the schedule of costs of the apartments just published by the College may be a little confusing:
YOU MAY VIEW THE VIDEO OF DR. CLINT EWELL’S REPORT TO THE GOVERNING BOARD ABOUT THIS PROJECT ON SEPTEMBER 19 BY CLICKING HERE. AUDIO ON VIDEO OF POOR QUALITY AS COLLEGE TECHS FORGOT TO MOOT CERTAIN MIKES.