April 15, 2024 8:22 PM

Total Loss: Fain Signature Group’s largest development in Prescott Valley goes up in smoke

Shortly after 1 am on Monday April 1, fire and police crews responded to a fully engulfed fire at Legado apartments at the corner of Florentine Road and Main Street, in Prescott Valley, AZ.

Lieutenant Jason Kaufman of the Prescott Valley Police Department was in command when virtually the entire police force turned out, directing traffic, closing off numerous streets, and supporting firefighters.

He said police and fire crews from Central Arizona Fire and Medical Authority (CAFMA)  aided in evacuating four buildings (A,B.C and N) of the Talking Glass/Homestead luxury apartments across the street. “No injuries were reported and locals cooperated by staying clear of the roadways,” he told me. No local businesses such as Fry’s grocery, across the street, had to be closed. Thanks to quick work by the police department and sheriff’s deputies, Highway 69 was not affected.

Residents of the Homestead apartments were offered one local school and the Findley Toyota event center as a place to stay temporarily during the evacuation.

Photo: The Legado apartments during construction (Credit Bill Williams)

The Legado multifamily apartment project was approximately 50% complete. The concrete garage and 329 apartment units under construction represent the estimated loss of 685,000 square feet of building.

“At this time, our focus is the health and safety of our first responders, residents, and business owners in the immediate area. We are working closely with CAFMA, Prescott Valley Police Department, and the Yavapai County Sheriff’s Office (YCSO) to ensure they have all the information they need to determine the cause of the fire currently under investigation,” said Brad Fain, President and CEO of Fain Signature Group.

“In gratitude, we can’t say enough about the effort, risk, and professionalism of CAFMA, Prescott Valley Police Department, YCSO, and supporting agencies in the region who successfully prevented the fire from spreading to adjacent structures. We are following the lead of CAFMA and Prescott Valley Police Department at this time to ensure the site is secured as firefighting and public safety efforts continue to take place. In addition, our hearts go out to over 200 workers, trades, and professionals that have been impacted by this loss in these challenging economic times.”

Photo credit Bill Williams

The entire building/parking lot structure was a complete loss. The Legado Apartments, parking structure, possibly shops and a roof top restaurant were to open sometime this year and were the brainchild, or new baby really, of the Fain Signature Group, owned and operated by Brad and Ron Fain of the Fain family that settled the valley around the turn of the last century. Their advertising literature said, “In the heart of downtown Prescott Valley, Legado offers residents luxury living with a prime location. At Legado you’ll be close to Prescott Valley’s best shopping, dining and entertainment.”

The now-rubble is located across the street from Prescott Valley’s Findley Toyota Center, host of sporting events, concerts, and gun shows. “Legado will have a 24/7 gym, resort style pool and community clubhouse,” the Fain brothers told this reporter when he met them in their conference room a few months ago. Three floor plans, finished with the newest luxury furnishings, large living areas and “gorgeous kitchens,” were planned.

Photo: The scene inside the Incident Command Vehicle (Credit Bill Williams)

Fire and police crews will meet with the federal Bureau of Alcohol, Tobacco and Firearms, from Phoenix, who will work with the CAFMA fire marshal to determine the cause.

One bystander told me, “Easter weekend, no one around, probably not much electrical run to the building….sounds like arson to me.”

That will, of course, be determined by ATF and the Fire Marshal.

Photo credit Bill Williams

Tom Pigg and his wife heard about the fire. They live north of town but drove down to see for themselves. “Can’t believe the size of the fire,” Tom said. “It was a large part of this downtown business area. I wonder if they will rebuild.”

Boxes of Sparklight cable company equipment was somewhat safe, across a narrow street from the fire. Sparklight had made one installation and was to make more for Legado residents’ services.

 “it makes you wonder about financials,” said Prescott Valley resident Gary Johnson, who came to watch firefighters. “Is it insured? What is the value of the loss?  What would it cost to start over?”

“This was a terrible loss for our community on so many levels. Our community is fortunate to have a great fire district (Central Arizona Fire and Medical Authority) and a top-notch police department,” said Prescott Valley Town Manager Gilbert Davidson. “Our firefighters and officers were fearless and heroic in containing the fire and not letting it spread to other nearby structures.  We owe a debt of gratitude to our first responders for the challenging work they do on our behalf.”

Davidson believes the addition of new apartments, retail stores, and a restaurant for our downtown area would have added great value to our community. 


3 Responses

  1. Top notch reporting by Bill Williams. BTW, Bill is a candidate for Prescott Valley council this year and would be a welcomed addition to town management.
    Amazing response by PV police and CAFMA fire to control the blaze and keep the damage from spreading to the three story “Talking Rock” (?) apartment development very close to the under construction “new” complex.
    Now, if only the origin of the fire can be determined can we put this disaster to bed.

  2. Why was speculation from bystanders suggesting financial struggles and the likelihood of arson reported? Reporting statements by people who have no facts is just starting rumors.

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