Two Local Agencies Partner to Bring New Home to Holdrege
31 Mar 2019
A new home will soon brighten the corner of 11th and Logan Streets thanks to a local partnership.
Last year, PCDC demolished two dilapidated homes on the lot through its GO Home Phoenix program. In February, the South Central Economic Development District, Inc. (SCEDD) purchased the lot and plans to construct a new three-bedroom, two-bathroom home on the property in the next few months.
Sharon Hueftle, executive director of SCEDD, said her agency has contracted to build a component home with Vantage Pointe of Lincoln that will help fill a need for more workforce housing in Holdrege.
Hueftle said this new home is part of SCEDD’s efforts to ease the workforce housing crunch in its service area. SCEDD received a $274,000 grant from Nebraska’s Rural Workforce Housing Fund created by LB518 two years ago to help with this issue.
“The Legislature knows that across the state workforce housing is in short supply -- that is housing for people who are not low income but can’t afford to build their own custom home,” Hueftle said.
In addition to the LB518 funds, SCEDD added $150,000 from its budget, raised another $31,000 and received $224,000 from the Nebraska Investment Finance Authority to create a fund just shy of $700,000 to help solve housing issues in its 13-county region.
SCEDD’s preferred method of using the fund is to loan money to developers or contractors, which they have already done in other communities. But, the agency can also create its own projects like the one in Holdrege.
“When we have money sitting, we do something ourselves,” Hueftle said.
PCDC sold the lot to SCEDD in February for $1 plus a share of the profit proceeds that will be divided between SCEDD and PCDC, which made the project affordable and able to stay within the financial guidelines of the rural housing grant. PCDC's intent is to improve the neighborhood and attract new residents who will add value to the community.
“It was a great partnership with PCDC to be able to get that property,” Hueftle said. “That neighborhood has some nice things going on. We think it’s a great way to continue to enhance the neighborhood.”
Hueftle said the Vantage Pointe home will serve as a pilot project that could be encouraged in other communities.
“We are impressed with this Vantage Pointe Homes product,” she said. “It’s a very high-quality home.”
The component home is scheduled to be delivered in May or June. The two-car garage will be built on site, and Hueftle said they will work with local plumbers, electricians and other contractors to complete work on the home.
This new Vantage Pointe home will be a great fit for a wide variety of potential homebuyers. Anyone interested in the home should contact Levi Adam at SCEDD at (308) 455-4773.
PCDC also purchased a property at 304 Keopple in Bertrand and demolished the structure on that lot. Several prospective buyers have shown interest in the property, and PCDC is accepting proposals to purchase the lot. For more information on the Bertrand lot, please call PCDC at (308) 995-4148.