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HSL Completes Encantada at Riverside Crossing Apartments
TUCSON, Ariz. – HSL Properties is pleased to announce the completion of Encantada at Riverside Crossing, a 304-unit, luxury apartment community located at 1925 W. River Road. The $32 million project, which includes a 69,000 gallon resort-style pool & spa, a 27-seat, stadium-style THX certified theatre, professional fitness center and Starbucks coffee bar, was completed in 18 months and is already 90 percent leased. It employed 63 sub-contractor companies during its planning and construction, of which 53 were Tucson companies. The project paid out approximately $22 million to local contractors, and it took an estimated 45,000 work hours to complete.
HSL Properties plans to break ground on Encantada at Dove Mountain, a 272-unit, $29 million project, by the first week of August. Additionally, it plans to commence construction on Encantada at Steam Pump Ranch, a 288-unit, $30 million project, in the fourth quarter 2012.
HSL Properties is committed to building top-quality, amenity-rich residential communities while giving bidding preference to local contractors.
Encantada at Riverside Crossing by the Numbers
Total project cost: $32 million
Square feet of buildings: Approximately 300,000
Total number of contractor companies used during planning and construction: 63
Number of local contractor companies used: 53
Economic impact to local contractor companies: Approximately $22 million
Total employees who worked on the project: 296
Average daily employment on site during construction: 78
Total work hours: Estimated at 45,000
Taxes and impact fees paid: Approximately $2.9 million
Copper wire: 1 million linear feet installed
Stucco: 500,000 square feet applied
About HSL Properties
Formed in 1975, HSL Properties currently owns and operates four hotels and over 10,000 apartment units in 40 apartment communities throughout Arizona. It is the largest apartment community owner in the state. Visit www.hslproperties.com for more information.
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