University Heights project nearly complete
The newly constructed University Heights clubhouse allowed the property managers to move out of the trailer they were initially doing business out of. With only two residential buildings left to build, the project is nearing completion. (COURTESY)
Despite economic conditions over the last few years that have rendered the housing market occasionally stagnant, co-owner John Halvorsen said the market for rental properties has remained strong.
Breigner said the project is good for the local economy.
“It takes several years to get a foothold of what your values, like rental streams, are. Right now a lot of it is projections, though so far they are materializing,” Halvorsen said.
“When we had to make changes and reconfigure the project, they were right along with us every step of the way,” Halvorsen said.
Under construction for nearly a year, Breigner said the plan is for all construction to be completed by September. Calling the apartments a marriage of affordability and quality, Halvorsen said he has been pleased by the reactions of new tenants.
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