Posted by: Joshua Laraby on Mar 30, 2017
Tagged in: Untagged
March 27th, 2017
Neighborhood Builders and Developers, a group of local investors is planning to help fill the need for additional market rate housing in Fairfield with plans to break ground this spring on the first phase of what is anticipated to be a more than a forty-unit condo project. The Lincoln Court Subdivision will located on 13 acres just south of the South Gate Housing Subdivision in Fairfield on the intersection of Lincoln Ave and future Court St.
The first phase will consist of ten two and three-bedroom condos in two fourplexes and one duplex along the north side of Lincoln Ave. The group’s sales team Chris and Debbi Davis with Davis and Palmer Real Estate believes the group can hit the $150,000-$165,000 entry price point necessary to make the units affordable to many middle-class families in the area. Each condo will be single story with double garages and a Homeowners Association managing snow, grass and exterior building maintenance. Units are now available for presale and can be tailored to individual including the number of bedrooms, patios and kitchen cabinetry.
NBD Manager Steve Kramer states, “We have looked at the market and see the need for additional high quality condos. The condos are going to be higher quality than older housing options currently available and far lower maintenance. We are working with the city on infrastructure improvements and are working through state incentive programs designed to encourage new market rate housing in rural Iowa.”
The group is currently working through rezoning and subdividing approximately 13 acres of property and plans to break ground shortly after completing the process this Spring. The development will also make room for additional neighborhood commercial development along South Main and demolish two older houses east of Libertyville Rd and South Main. FEDA Director Josh Laraby notes, the announcement is great news for a city that has made new housing one of its top priorities.”
Those interested in further information on the project should contact Chris Davis at Davis & Palmer Realty at 641-472-5073. Special financing programs will be available through Iowa State Bank.