By Maria Polletta
The Arizona Republic
Chandler’s economic-development savvy has made headlines in recent years, as the city’s growing employment hubs prompted big-name companies like Intel, eBay and Ports America to take over or construct sprawling Chandler facilities.
But when it comes to the young, mobile professionals who work at those companies — and who may not want to be saddled with mortgages — the city hasn’t had many new residential options to offer.
After seeing just one apartment-complex plan trickle through the city zoning process from late 2008 through 2011, the City Council this year has approved six apartment projects, with at least one more stopping just short of the council dais.
Planning officials say a three-pronged “perfect storm,” combined with the economy’s recovery, sparked the shift.
“Some of it is simply that … normal absorption as a city is growing. You have vacancy rates that are at historic lows right now, with occupancy at 97, 98 percent,” said planning manager Kevin Mayo. “Apartments are typically the immediate follower of either anticipated job growth or real job growth, and we have that with Intel. Last, because of the housing market and foreclosure rates, people are really in a period of transition.
