May 11, 2021 (1:07 PM)
It's official! Today we closed on our motel to apartment conversion! How exciting! Well, let's not jump the gun. We closed on the purchase of the motel and the conversion will begin soon. This property is nestled in the beautiful city of Sierra Vista at an elevation of 4,633' above sea level and just a short crow's flight from the Mexican border. We are now the proud owners of the Quality Inn on Highway 92. By the end of tomorrow the badges will be removed, the sign gone and all evidence of it being a Quality Inn will be kaput.
Between the Mexican border and the City of Sierra Vista are the majestic mountains called Huachuca. These amazing sierras reach towards the stars and peak out at Miller Peak, 9,465 feet! These mountaintops get snow in winter. Yep! This far south. True story!
Sierra Vista is known for many things; Fort Huachuca, Huachuca Mountains, retirement, serenity and of course, the hummingbird capital of the United States. Isn't that a fun fact?
Fort Huachuca, Huachuca City, Huachuca Mountains; why the name Huachuca? After a bit of research it was learned that Huachuca means "Thunder Mountain", or "Place of Thunder", or "Thunder in the Hills" in Pima Indian language. After learning this we felt it perfect to name the property "Thunder Mountain Apartments". Totally fitting, isn't it?
Enough about that. Let's get on with the plans. Here are the items we will immediately tackle:
First, Ben, Nate and I (Bruce) are meeting with the architect and the City of Sierra Vista tomorrow to go over plans, timelines, permits and fast-tracking our project. Our ambition is to find out what the city needs and deliver it. This will make permitting so much easier. Who wants to fight City Hall anyway?
Ben Nate and I will take this information and go to the property we now own and walk it to take notes in minutiae. This will be paramount in developing our plans, timelines and fulfilling the vision while keeping it within the boundaries set by the city.
Then on Thursday we will go over these timelines, make adjustments, coordinate changes and begin scheduling everything we can without the need of permits. No need to sit on our hands and wait!
From here Nate will monitor the process for permitting and keep on the details. This could realistically take anywhere from 6-8 weeks from today to have the permits in hand. We hope to have much completed by then!
We will also encourage the property management to get as many month-to-month renters as possible as this property yet falls under the current grandfathered motel operations and we are free to do so. We all want to get in as much income as we can during our repositioning phase! As an item to note, we cannot sign leases which are over 30 days without having the building updated.
There you have the first update of our exciting Thunder Mountain Apartments project. Stay tuned for further news! The plan is to update weekly on Wednesday. Check back on May 19th to see if I have fulfilled this plan and hold me accountable!
And, that is our project from my corner of the globe. ~Bruce
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