The conversion of the Frontier Village Apartments to $145,000 condominiums cleared another hurdle last week, with the town council’s approval of the preliminary plat plan.
The owners of the 60-unit complex at 801 E. Frontier St. want to renovate the units and eventually sell them as condominiums costing $145,000 to $169,000.
Realtor Ray Pugel said the conversion will provide affordable housing in a town struggling to provide work-force housing.
“It’s something we’ve been lacking for a long time,” Pugel told the council last week.
He noted that anyone who buys the units will pay a roughly $140 per month homeowners’ fee, to provide for the maintenance of the grounds and shared facilities.
Many of the current residents protested the conversion plan at several required meetings. Most said that the town remains critically short of affordable apartment units, since most complexes have waiting lists for vacancies. The two-bedroom rental units at Frontier Village go for about $700 per month.
Resident Colleen Pointer said “we had affordable housing until they took over. We were forced to sign a lease. Some of us do not want to buy,” she said on a comment form attached to the application.
“Boo,” commented David Walker. “I feel we are being pressured to move out of the apartments, which equates to us being moved out of Payson. There are no affordable housing units available. Where will we go? What will we do? I have only been a member of this community for two-and-a-half years, but I have made friends here. I have volunteered to work at the Payson Senior Center. I want to remain in Payson.”
However, none of the residents showed up at the council meeting to protest.
Pugel said that the current renters would have the first right of refusal to buy their apartments when they went on the market. He also said that the owners were working with lenders to try to find below-market financing, to make the units affordable.
Curves moving in 2009
The Rim Country Mall will soon be home to another fitness center.
By October 2009, Curves for Women will move into a 1,800-square-foot suite in the Rim Country Mall, 400 E. Highway 260, near the Payson Athletic Center.
Director of Leasing at Larsen Baker Andy Seleznov, CCIM said Curves is a fitness and dance center currently located at 242 E. Highway 260.