Ms. Lisa Stephens, the Owner and President of Saigebrook Development, LLC, a WBE/Texas HUB certified real estate development firm, presented her plans to develop 104 apartments 1/2 mile Southeast of the intersection of Del Webb Blvd and Williams Drive. There was an overflow crowd of about 500 semi-hostile people, primarily residents of Sun City.
Ms Stephens had to remind the crowd several times that she was hosting the information meeting voluntarily and if people were not respectful, she would terminate the meeting.
Ms Stephens provided several pieces of useful information. First, the property in question had been zoned and approved by the city council for single family, commercial and multi-family residential in 2012. The proposed development, called Kaia Pointe Apartments, uses only 5 acres of the 40+ acre property that had been approved in 2012. She has no idea what the owners of the remaining property plan to build. As part of the re-zoning in 2012 a traffic study was conducted with recommended roadway changes. Ms Stephens indicated that traffic study was available from the city. Items she indicated would be constructed would be stop lights and dedicated left and right turn lanes on Williams Drive into the development.
Ms Stephens presentation focused on describing the high quality development she planned to build and operate. Her company will maintain ownership of the property and manage it to assure it is profitable and well maintained. She described the apartments, amenities and the screening processes they used for the tenants.
As a profit making company they will pay property taxes based on the value of the property as do other private property owners.
She indicated that only one of the three proposed apartment complexes along Williams Drive will receive the Housing Tax Credit. If her company does not win the Tax Credit, they will look at other Government assistance programs, not Section 8, and whether it is economical to build "market rate" apartments with no assistance.
The issues that concerned the crowd were traffic, congestion, crime, property values and similar issues not under the control of the developer. Conspicuous by their absence were any representatives from the city or city council members or the mayor. The items that concerned the attendees are properly addressed by the city and city council. It was reported that all three developments identified in a previous blog will be on the council agenda, Tuesday, February 9 at the regular time.
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