We’re standing on Timber Ridge Street, looking north toward the Knox Butte roundabout.
On Wednesday I took a bike ride to the east side of Albany to take a look at the site where a series of apartment blocks are sprouting up south of the roundabout on Knox Butte Road.
Here’s my impression:
The building permits on file say there will be 24 buildings, with most having 12 units each. There’s also a central recreation area complete with a pool. The apartments range from 728 to more than 1,200 square feet, with one, two or three bedrooms each.
There will be parking stalls for 558 cars, including 71 garages. Clearly this was not planned as a residential area for people who don’t have or need cars.
The site plan shows 66 parking spaces for bicycles, including 11 covered ones.
A couple of things about this project may have changed since the city of Albany’s community development director approved the site plan and a floodplain development permit in May 2020.
One is the name of the development, which lies east of Timber Ridge Street (I forgot the “Ridge” in my halting commentary on the video) and south of the roundabout of Timber Ridge with Knox Butte Road.
When the city approved it, the project was known as the Brandis Meadows Apartments, named after the family that used to own the acreage. But the sign on the roundabout says “Eagle Pointe Apartments.” (Are we supposed to pronounce that as “pointy”? Probably not. But “Brandis Meadows” has more class.)
The plans are the other thing that may have changed, a little anyway. The city’s approval was for 264 apartments, according to the May 15, 2020, notice of decision. But the building division says online that it issued permits for 268 units.
According to the sign, the place was to have been ready by the summer of 2022. That is now, and while a couple of the buildings look nearly finished on the outside, most of the others won’t be ready for tenants for a number of months. (hh)
The sign on the Knox Butte roundabout.
Some of the work is pretty high up on the three-story buildings.
Sign says opening summer 2022..
They still have plenty of time to open as summer 2022 last day is September 21
Description does not sound like they will be affordable.
Define “affordable”.
City/State will need to install a semaphore at corner of Knox Butte RD. and Goldfish Farm Road. Already very challenging corner, particularly at morning/afternoon busy hours.
Went to mdipropertyinfo.com to get details. Link to this development is wrong and sends you to Medford instead.
Seems this Salem anagement company’s website has a drone shot of the Albany development but no other info on it.
We do not need more market rate apartments. Drove by it and it looks like a small city.
Are you expecting them to build under market rate apartments or not build them at all? Either is likely only a dream the way things are going in Albany lately.
I am confused, I see continuing whining that an apartment is not “affordable. Only an Idiot would build an apartment and not charge market rate, are people really so dumb as to think that people with money would build something and then lose money on it?
Here is the way it works: A nice apartment is built and is put on the market; somebody moves into it. They left a less desirous apartment which is now on the rental market for someone who needs a lower price spot. Eventually the entire market is covered. I just see people wanting a nicer place than they can afford.
At last a commenter on Hasso understands the function of markets. Thank you.
Some tenants move up to newly built apartments, which can open the door for lower rental housing. But, many tenants move here from out of town. There wouldn’t be the market to build if it wasn’t for people moving here.
and those out of town people come in all economic levels, just like the folks who live here. That does not change the fact that if you have a 4 percent vacancy rate, 4 percent of 10000 is a larger number then 4 percent of 8000.