Flagstaff city officials greenlit significant real estate projects this month, focusing on new residential units and commercial construction. On October 11, the council unanimously approved rezoning for The Lofts at Continental, a 139-unit multi-family development on 13 acres east of Interstate 40.1 The project includes 57 percent two-bedroom units and allocates 10 percent as affordable housing.
Earlier in the month, on October 3, the council unanimously approved rezoning for the Sky Cottages at Timber Sky project along Woody Mountain Road. This development features 202 semi-detached rental units with amenities including courtyards and electric vehicle charging stations.2 Developers aim to begin construction within the next year.
Commercial Development
A separate $55 million downtown hotel project also moved forward. Developer Capri Inc. is advancing plans for the Graduate by Hilton Flagstaff at Beaver Street and Birch Avenue, including an adjacent parking garage. Construction on the garage was targeted to start by the end of September, with hotel work slated for spring 2027.3
These approvals align with criteria for projects exceeding 100 housing units or $5 million in construction value. No market price swings greater than 5 percent were reported in available data for the period.