Apartment complex coming up in northeast Fresno

Source: The Business Journal
Written by Ben Keller, Business Journal staff writer

 In a dirt field surrounded by houses, a new apartment complex taking shape at the corner of Nees and Chestnut avenues will soon provide more living options for residents of northeast Fresno. Spencer Enterprises of Fresno began building the complex around six weeks ago, envisioning 160 one-, two- and three-bedroom apartments on a 10-acre site. There will also be a recreation building, workout facility, pool, laundry facilities and other common area amenities. Vice President Steven Spencer said when complete around August 2015, the yet unnamed complex will serve a need in the northeast Fresno area where few other multi-family residential housing projects exist. "There's a complex on Chestnut Avenue north of us near Teague. Otherwise, you have to go as far as Cedar," said Spencer. Spencer said floor plans at the new complex will range from 800 square feet for one-bedroom apartments on monthly rents between $900 and $950 to 1,400 square feet for three-bedroom layouts for about $1,450 per month. So far, foundations have been poured for four of the 20 apartment buildings, while all of the foundations should be complete in the next eight weeks. Total construction costs are estimated at close to $20 million, Spencer said. Since Steven Spencer's father Richard Spencer began Spencer Enterprises in 1973, the company has built around 20 apartment complexes, most of them in the Fresno area and another two in Madera and Bakersfield. All of the company's apartment complexes are overseen and managed by Royal T Management of Fresno.

URL to original article: http://www.thebusinessjournal.com/news/construction/12553-apartment-complex-coming-up-in-northeast-fresno 

For further information on Fresno Real Estate check: http://www.londonproperties.com