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Council approves water service for 82-unit multifamily workforce housing project
Summary
The council approved WSA 26-005, allowing water service for an 82-unit multifamily project that developers say targets workforce households (30–80% AMI); staff estimated total demand at 11.3 acre-feet per year and the developer described financing that relies heavily on federal/state tax credits.
The Prescott City Council on March 10 approved a water service application (WSA 26-005) for an 82-unit multifamily building proposed between Lake View Plaza Lane and Mogollon Road.
Brian Rees, the city's water resources manager, presented staff's demand analysis under the 2022 water management policy and said the project was estimated to need about 11.3 acre-feet of water per year (9.8 acre-feet indoor demand plus 1.5 acre-feet outdoor landscape demand). He told council the city had roughly 25 acre-feet available in the residential water budget for the January–June budgeting period.
A developer representative said the 87,000-square-foot, $25 million project would target households between roughly $38,000 and $72,000 in annual income (30–80% area median income), would not be subsidized by project-based Section 8 vouchers, and plans to use federal/state housing tax credits for about $19.7 million of the capital stack. The developer said units would be submetered and that the design includes underground stormwater strategies and NGBS green certification goals. "These buildings don't happen very quickly," the representative said, noting a projected construction start in 2027 with leasing in 2028.
Council limited discussion to water-service matters after staff asked for focus; questions raised included submetering, landscape water use, and whether the project could meet water-budget constraints. City staff said the water-issues subcommittee recommended forwarding the application to council; the council approved the motion to grant the water service application (vote recorded as 7–0).
Council indicated additional project-level approvals (planning/permitting, building permits, and potentially funding items) will follow separate processes.
