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The original item was published from 4/24/2012 2:21:00 PM to 4/29/2012 12:05:01 AM.

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City News

Posted on: April 24, 2012

[ARCHIVED] Developers To Announce New Market Rate Apartment Project

The media conference is open to the public and the developers will be introduced and release details of the nature of the type of development that is planned and its time frame.

The developers have closely followed the apartment housing shortages that have been identified by Sidney's City, Chamber and Business leaders over the past several months, and the acute shortage that was further identified in the 2012 Sidney Comprehensive Plan.

According to City Manager Gary Person this project will be the largest private sector driven market rate apartment development in Sidney’s history, estimated to cost as much as $10 million when fully developed. It does have several procedural steps to be accomplished to accommodate the development and those will be laid out in upcoming city council meetings. "We're very excited for the community to learn more about this development." It’s proposed location is in the Phase 2 area of the Prairie Winds Development along Fort Sidney Road.

Sidney's 2012 Comprehensive Plan targets additional market rate rental housing properties among Sidney's greatest needs to accommodate its existing job base. It is also critical for the anticipated continued expansion potential of existing major employers.

"We've worked with a number of prospective apartment developers and investors in recent years to encourage them to build here because of the frustration so many job seekers, employers and employees were experiencing. We are extremely pleased and feel very fortunate that a high quality market rate development is now being planned for Sidney. We especially appreciate the fact these particular developers believe in our community's future as much as we do. It's a huge leap of faith, but based on sound facts, and we sincerely appreciate it.

"We've been fortunate to see some apartment developments happen in recent years here, but most were tied to tenant income restrictions or government regulated programs. While any additional housing has been very welcome and appreciated in the Sidney / Cheyenne County area, we also have a great need for high quality market rate rental housing that accommodates medium and higher incomes," Person said.

Current employees that work here, but commute to Sidney because of lack of existing housing, will now have a choice to live here. It could also be a good fit for retired seniors now living in single family homes, Person said. It’s the missing niche.

Person added that several additional business and industry job expansion projects are currently in the final planning stage and "this announcement will certainly help those companies make the decision to put those jobs in the Sidney area."

The City Council and County Commissioners, working with the Chamber of Commerce and Business community through our economic development partnership efforts over the past 20 years, have created a pro-business growth atmosphere for Sidney and Cheyenne County that has encouraged projects like this to happen. It is a definite key to our future progress and success.

Many people and businesses played a critical role in making this particular project happen, Person said, and we thank them for their many dedicated efforts.

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