Phase one of Spring River Apartments on North Sycamore Avenue has stayed fully occupied since August 2018. (Lisa Dunlap Photo)
The second phase of a higher-end apartment complex in Roswell is scheduled to begin construction next month.
The developers of Spring River Luxury Apartments on North Sycamore Avenue have announced that work should begin on the next 112 apartments in mid-November.
Chad Lydick of Lydick Engineers and Surveyors of Clovis is a partner in the development along with Emery Chuckly of Emery Stephens Holdings Corp. of Tucson, Arizona.
“The site is in good shape, so we don’t expect any problems,” Lydick said, who added that he and his partner have appreciated working with the community on the development.
Lydick said that ENJ Construction will be the general contractor on the estimated $16 million project. ENJ Construction is based in Irving, Texas, with operations in El Paso as well.
A Nov. 18 groundbreaking ceremony is being planned by the Roswell-Chaves County Economic Development Corp.
“We need additional housing, especially with Ascent Aviation coming in about a year,” said Mike Espiritu, president of the Economic Development Corp. “This is a definite need for all of us, and we are happy that Spring River is able to do this.”
Lydick said that his marketing analysis shows a shortage in apartments and that he expects that phase two of his local project will have 95-100% occupancy once built, as has been the case with the first phase.
The original portion of Spring River broke ground in May 2016 and began renting units in August 2018. That phase consists of nine apartment buildings with 144 units, as well as amenities such as a community building, a pool and a playground area. Monthly rent is about $1,000 to $1,310, according to its website.
Lydick said the second phase is expected to take about a year to build. It will be 122 units of one-, two- and three-bedroom apartments.
“Right now, we don’t have any plans for any types of additional amenities,” he said. “That could change, but that isn’t the plan right now.”
A housing study by the city of Roswell in 2016 found a significant need for rental units of all types, with only 66 units available at that time. A March 2020 apartment survey by the Bureau of Business and Economic Research at the University of New Mexico surveyed 12 apartment properties in Chaves County, finding 681 total units, with 577 of those being one- or two-bedroom units. Average rent was $631 a month.
The city of Roswell has developed affordable housing codes giving incentives to developers who will build such single- and multi-family projects, and the EDC is working with other counties on bringing affordable single-family housing developers to the area.
Senior Writer Lisa Dunlap can be reached at 575-622-7710, ext. 351, or at email@example.com.