Five years ago, when the Flagstaff Design Center was founded by four Flagstaff businesses, the economy was cranky. The construction-related businesses banded together to cut costs by sharing space, rent and utilities.
At the time, it was a form of safety in numbers for self-defense.
“Now, it seems to be a good idea because there is so much work,” said Katy Kyle, showroom coordinator. “All the contractors are really busy and everything seems to be on the upswing.”
The Design Center has become a destination for builders, general contractors, interior designers and homeowners, for both new construction and remodeling projects.
Kyle says the idea has worked so well that two more construction-related businesses have joined the group.
“I’ve seen everything ramp up,” Kyle said. “The addition of the two new companies is a great indicator of our previous year’s growth and what we see for our future. I believe we are a good indication of economic rise in Flagstaff.”
A recent study confirmed that Coconino County is ranked among the top areas in Arizona poised to grow.
The New York-based financial technology company SmartAsset completed the study based on the number of new building permits, municipal bond investment, business establishment growth and Gross Domestic Product (GDP) growth.
“There are several ways individuals, governments and businesses can invest money in a county or region,” said Steve Sabato of SmartAsset. “Our study aims to capture the places across the country that are receiving the most incoming investments in business, real estate, government and the local economy as a whole. We looked at whether or not people are starting new business ventures in the county. We also looked at investment and development in the local residential real estate market. The final factor we considered was investment in municipal bonds. We found the average municipal bonds raised by a county over the last five years, which we divided by the population. This gave us a per capita look at investment in local government or agencies.”
According to local statistics, retail sales are up and building permits have increased 35 percent in the past few years.
This recent burst of building “feels real,” said Don Colegrove of Wm King-Colgrove LLC. “The outlook is positive for the next few years. You have to be a little timid after what we’ve been through, but it feels better.”
During the last few years, he says there have been fits and starts, but he is more confident now than he has been for a long time.
Panera Paige, a realtor and sales consultant for Capstone Homes, says it is a “very busy” time for her company as well. She says new home sales are up and new home construction is up because of the low inventory of existing homes. Paige thinks people want to jump into the market before interest rates and housing prices “crawl back up.” She notes that her major customers are people who want to escape the heat of the Valley or locals who want to upgrade.
Andy White, who is in the process of joining the design center, says the economy has picked up so much recently that people are again building homes, “wanting all the goodies.”
White’s business, Avdomotics, allows homeowners to manage their home from an application on their phone and that means heating, cooling, security and now even coordinating solar panels with the heating system can be controlled by a person’s phone.
“My main motivation is the collaboration and consortium of providers in one spot, which makes it easy for the builder or client to have a one-stop shop,” he said.
Sierra Pacific Windows is also just about to take up residence at the center, along with founders Northern Arizona Stone Creations, Superior Window Fashions, Cabinets by Sun Ray and Floor Coverings International. FBN
By Patty McCormac, FBN