Gramercy Villas, in the heart of the Treasure Valley near Overland and Eagle roads, were built to serve renters who want more than they get in typical apartments, including hardwood floors, granite countertops and tile back splashes, says Andrew Propst, owner of Park Place Property Management in Meridian.
“There’s not a lot of high-end multifamily in that area,” he said.
The 48 apartments with one, two or three bedrooms rent for $795, $895 and $995 a month.
Each has a washer and dryer, a patio or balcony, two covered parking spaces and stainless steel appliances.
Nearby is Mountain View High School, shopping and restaurants, a playground, parks and trails.
New apartments are springing up across the Valley as demand rises.
“Vacancy is low, demand is high,” Propst says.
Treasure Valley vacancy rates in the last three months of 2011 were 1.8 percent for one- and three-bedroom apartments, and 2 percent for two-bedroom apartments, according to a survey of more than 1,900 multi-family units by the Southwest Idaho Chapter of the National Association of Residential Property Managers.
Gramercy Villas are part of the Gramercy District, an urban, mixed-use development on 80 acres. The district was established in 2006 to create a live, work and play neighborhood in Meridian, according to property manager Taylor Merrill of Westpark Cos., the developer.
Sandra Forester: 377-6464
