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Upscale Apartments Rising in Downtown Prescott Valley

Groundbreaking ceremonies near Prescott Valley’s entertainment district have signaled the beginning of a $35 to $40 million upscale apartment complex, Homestead at Talking Glass, on almost 10 acres.

Executives from the Fain Signature Group greeted more than 75 attendees who gathered at 10 a.m., Thursday, Sept. 14. They opened formal ceremonies to celebrate the culmination of more than six years of planning and investment efforts, which they say will result in a first-class, high rise residential community.

Tofel Construction of Tucson moved heavy equipment onto the site at Main Street and Florentine Road in late September for the project that is expected to be completed in 18 months.

Plans call for 14 apartment buildings. Five will be two-story structures, while nine will be three stories tall. In all, 214 apartments are in the complex, with varying square footages for different units.

Building materials will include wood, stone, steel and stucco. The exterior design is being called “Western heritage.”

In addition, a 9,000-square-foot clubhouse will serve the complex. Tofel Construction Project Superintendent Harry Polley says the clubhouse will have many components including a conference room, multi-purpose room, theater, fitness center, second floor game room, leasing area and maintenance room and rooftop patio.

Other complex amenities include a swimming pool cabana, ramadas and a dog park.

Polley said overall, the complex would be very appealing in its physical appearance and feature some high-end conveniences.

The company specializes in creating multi-family housing in several communities of the Southwest. Company background shows it has experience in optimizing land use, financing, marketing and constructing of complex structures.

Tofel Project Manager Steve Marascalco said the company plans to buy much of the building materials from local suppliers and vendors. He also hopes to hire construction workers from the area.

“Right now, in just Phoenix, builders are short more than 1,200 workers,” he said. “We’re afraid that many of the workers from this area are going to The Valley. What’s more, with the need for laborers now in Texas and Florida, the shortage may get even worse. We want to emphasize that we hope people contact us if they are hunting for construction jobs. We’ll pay well, and they can work six days a week.”

CEO Fain Signature Group CEO Brad Fain praised his late father, Bill Fain, for

having the vision for more than 50 years of Prescott Valley becoming a community where people could live affordably, comfortably and cooperatively. “Seeing this apartment complex become reality is just an extension of his vision,” he said.

Fain explained that his parents carried on the tradition that William and Cary Fain began when they arrived in Arizona in 1874 and founded the Fain Land and Cattle Company.

“Throughout our family’s history, our family has contributed to the greater community to make life better for citizens,” Fain said. He cited contributions of land for the airport near Prescott, 100 acres for Fain Lake and Park, 65 acres for Bradshaw Mountain High School, the Prescott Golf and Country Club, Quailwood Greens Golf Course and other gifts to the community.

“The entire Fain Family has a genuine passion for this community,” said Prescott Town Manager Larry Tarkowski. “This latest project is just another step forward in the momentum that has made Prescott Valley the largest, most rapidly growing community in the region.” QCBN

By Ray Newton, QCBN

 

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