What’s that big hole in the ground?

People who have driven by the corner of Sunrise Highway and Rockaway Avenue lately may have noticed a change in the property’s look. The Sun Valley Towers apartment complex has finally broken ground after its plans were first approved in early 2010.

The building will have room for four retail stores on the ground level and three floors of housing — 64 one- and two-bedroom units. The property owner, Alma Realty Corp., has its own construction company, electricians, plumbers and other maintenance workers, according to Patricio Solar, one of Alma Realty’s five in-house architects.

Solar said now that the ground has been broken, he does not think there will be any more delays in the project. “Unless there’s some unforeseen situation, we’re just going to move straight forward,” he said.

Plans were delayed because of the uncertainty of the economy, according to Mike Sullivan, the developer’s attorney. “I think anybody who has lived in the United States since 2007-08 recognizes that an awful lot of things that would have been built between 2007-08 and today were not built by reasons beyond the control of any developer,” he said.

Now that Sun Valley Towers has been physically started, Solar said construction should move smoothly. “I think what’s caused some of the delays for the owner have been the economy, making that commitment to put in the money and invest in a building there, and having the fears of maybe not getting it rented out,” he said. “But now things are looking better, so now he’s pushing forward and when he goes, it’s 100 miles per hour.”

Solar has original designs for the building that date back to early 2007 and the plans have remained unchanged since they were approved by the Board of Zoning and Appeals on Jan. 26, 2010. In 2009, the project was expected to cost $21.7 million and Sullivan said the budget is “within range of the original projection despite the passage of time.”

In 2009, the state awarded the village a $2.5 million grant that went to the developers for this property.

According to Solar, the building will have a brick façade with more than 10,000 square feet of commercial space along Brooklyn Avenue. He added that the commercial property will most likely be taken quickly, but the apartments will have to wait a bit longer.

“Apartments are more difficult because you have to have the building at least 90 percent complete before you can get people in the building to tour it and do some open houses,” Solar said.

He estimated that the building would take 18 months to complete and there should be noticeable foundation laid within 10 weeks. Sullivan said that once Sun Valley Towers is complete, it would benefit the entire village.

“You have a tremendous increase in the tax base,” Sullivan said. “You also have a major complex that I think is very well-situated to help improve the main village.”

Sullivan added that this condominium complex, “signals a revitalization that is going to be noted not only by local businesses but by other developers.”

Mayor Ed Fare said the addition of the Sun Valley Towers will be a nice improvement for the village. “Having a nice new cornerstone there on Rockaway and Sunrise is extremely positive,” Fare said. “I think having the mixed use of the retail downstairs and the apartments upstairs will be nice entryway onto Rockaway Avenue off Sunrise.”