Villas on Shelby aiming to add 30 units in 2025
Rendering courtesy city of Sedona.
Sedona needs 1,300 apartments and should get 30 of those sometime in 2025. The Villas on Shelby will provide 24 one-bedroom units and six three-bedroom units and rents will run from about $849 to $1,178. But as the lingering shortage of affordable housing in Sedona and elsewhere illustrates, it’s not easy to come by. The developer, HS Development Partners, used low-income tax credits as well as loans and will lease the land from the city for 75 years in exchange for $50,000 down and an annual rent of $1,200, and the contract lets the city buy the entire project after 30 years for $100.
Source: https://www.redrocknews.com/2024/01/19/villas-on-shelby-aiming-to-add-30-units-in-2025/
