Washington Square Apartments Ribbon Cutting is Scheduled for July 13th
Friday, June 29, 2018
July 13th is a day to celebrate as it marks the ribbon cutting for the new Washington Square Apartments in Holdrege. This project is the culmination of joint efforts between Flat River Enterprises (developer), BD Construction of Kearney (contractor), and Phelps County Development Corporation (PCDC). With the completion of the project, 18 townhome-style apartments will be available for workforce housing in Holdrege.
The units are generously sized at just over 1,000-square-feet and include two bedrooms and two bathrooms. Each unit also includes a full set of kitchen appliances, along with a washer and dryer, hot water heater, heating and air conditioning. These units are designed to be comfortable, efficient, and well-appointed so that those working in Phelps County can easily relocate their family to the area.
Addressing the housing needs of Phelps County
With the workforce growing in Phelps County, there has been an increased need for rental and owner occupied properties. The goal of the PCDC is to stay ahead of this need by working to develop the necessary housing units in anticipation of the growing demand. Our research on current and future housing needs can be used by developers and property owners to make strategic decisions on how to best use their properties and investment dollars.
The housing study completed by the PCDC found that Phelps County will need 270 additional housing units by 2022. This includes 170 owner-occupied units and 100 rental housing units. Washington Square Apartments will help to meet the need for these rental units.
History of the project
Washington Square Apartments is being built on the former site of Washington Elementary School at 8th and Morton. This property was previously underutilized and the PCDC looked at several options for how to make the best use of it. Housing was a clear choice since Phelps County is in need of additional housing units, especially workforce housing.
Once the property had been cleared and a developer came on board, the project was able to get started. Groundbreaking took place last September and construction has been ongoing ever since. The total project cost is around $2.25 million.
Opportunities abound in Phelps County
The PCDC is proud of our role in helping to launch the Washington Square project. Housing developers and investors who are interested in helping to meet Phelps County’s housing needs should contact us for information, opportunities, and support.
Phelps County Development Corporation
502 East Avenue P.O. Box 522 | Holdrege, NE 68949
Phone: (308) 995-4148 | email@example.com