News Flash

Economic Development

Posted on: October 30, 2018

Newton Housing Development Corporation Update

NHDC Ribbon Cutting

Here are updates from our partner, Newton Housing Development Corporation, for the month of October.

  • In Fountain Hills, the sale of the newest spec home is pending and should close in November. Venture Homes is considering starting another spec home this year.
  • In Cardinal Ridge, two units have closed and two units are pending sale. Ground Breaker Homes has purchased an additional lot.
  • In Bradford Estates, a new builder has purchased all four lots from the bank.
  • In Fairmeadows North, two houses have closed, two custom homes are under construction and a spec home is under construction. There is an additional lot that has been sold and a lot that is pending sale.
  • Farrell Properties is building two spec homes on S 11th Ave W near Maytag Park.
  • The master plan for the Barton Land that NHDC owns has been completed by Bolton & Menk.
  • Since July 1, 2014 there have been a total of 55 units permitted; 39 have been sold, six are pending sale, eight are under construction or for sale and two lots have not had development started on them yet.
  • There is an uptick in downtown housing including second story units in various buildings, Hotel Maytag, the Lion Development project and interest in creating apartments in Legacy Plaza.

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