More apartments coming: Deer Ridge will have 163 units when it’s projected to open in 2015
Foundation construction has begun on what will become the largest apartment complex in Jamestown, according to Justin Hammer, director of residential property management for Investors Real Estate Trust. The building will be known as Deer Ridge, and work is currently underway on the foundations.
Deer Ridge, located at 800 12th Ave. NE, will include 163 units on three floors above the garage level. Hammer said the building plans include 48 one-bedroom, 84 two-bedroom, 29 three-bedroom and two studio apartments.
Since 2010, a total of 76 apartment units have been built in Jamestown, according to Gary Klundt, building inspector. Deer Ridge will be the largest single building apartment facility constructed in Jamestown.
“We’re still in the process of calculating the rents,” Hammer said. “We are hoping to have the building ready for occupancy by the early summer of 2015 but that will all depend on the weather this construction season.”
Apartments in Deer Ridge will offer more amenities than the Meadows Apartments, which are also owned by IRET. Hammer said the Meadows Apartments and Deer Ridge would both be considered Class A properties by the company, indicating the units include extra amenities with garages.
“It will include underground heated parking and other garages, a fitness center and a community center with a large patio,” Hammer said. “Each unit has facilities for in-unit laundry, dishwashers, stove and fridge, and most units will include a deck.”
Hammer said the company’s track record in Jamestown was part of its decision to build another apartment building in town.
“The Meadows (Apartments) perform very well for us,” he said. “We took that into consideration when we decided what type of product we’d put there.”
Dave Klein, executive director of the Stutsman County Housing Authority, said the building would be a welcome addition to the housing inventory in Jamestown. He reported to a special meeting of the Jamestown/Stutsman Development Corp. in June that rents in the new building were anticipated to range between about $800 per month for efficiency apartments to about $1,200 per month for the three-bedroom units.
Klein said Deer Ridge may appeal to a growing group of renters.
“A new trend is a lot of young professionals renting apartments,” he said. “With a large amount of new people coming to the area, many will want to gauge if they like the job and the community before they purchase a home.”
Sun reporter Keith Norman can be reached at 701-952-8452 or by email at firstname.lastname@example.org