Superior’s Central Flats Scraps Retail Space For Residential
Sometimes demand wins. Property managers at Superior's Central Flats apartment building have started the process of converting most of the planned ground-floor suites that had been allotted for commercial or retail space into residential apartment units. The highly-visible building located along Belknap Street/Highway 2 is owned and managed by P&R Properties.
As originally built, Central Flats offered 130 apartment units on its upper floors; the ground floor was reserved for commercial and retail space. Since opening, the apartments have completely filled up. Meanwhile, there is one commercial tenant in the building, with a second "coming soon", according to an article in the Superior Telegram.
Because the apartments have filled so fast, the owners decided to convert away some of the retail. "Four additional apartments" are being built in that space - which will leave "[t]wo of the retail spaces on the east and west sides of the building facing Belknap Street".
P&R Properties explains the reasoning behind their decision:
"Our decision to convert the space for residential use was due to the high demand for housing in Superior. Currently, Central Flats is totally full, as are our other three complexes located in Superior. The demand for apartments is high. We currently have a waiting list of over 50 people who would like to become residents of a P&R Properties complex."
Additional relief for Superior's housing market will also come with a new complex being built by P&R Properties. That site will be located on Bardon Avenue near the Mariner Clinic and Mariner Mall. However, construction won't begin there for "more than a year".
In addition to Central Flats and the planned site near the Mariner Mall, P&R Properties operates three other apartment complexes in Superior: The Onyx is located near Central Flats off Weeks Avenue, 320 North which is located closer to Highway 2 and the Perkins area, and Village Apartments in South Superior.
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