(Ord, NE) – After two years of planning and research, the New Neighborhoods Project is moving full-steam ahead. An official groundbreaking is scheduled for October 28th, 2010 at 1 pm, at the Rolling Hills project site. This project will provide 40 new housing units developed over two phases and will invest $9.6 million dollars into Ord and the surrounding area over the course of seven years.
Phase One includes the construction of six rental townhomes (twelve total units) for residents age 55 or over that income-qualify. Phase Two will construct 28 single family units, seven of which will be designated for families that income-qualify. 21 homes will be designated as market rate homes. You can download a final building plan of the new housing development here (.pdf).
Phase One bids have been awarded with 100% of local contractors utilized in the construction of Rolling Hills Townhomes. Phase Two will also have Down Payment Assistance available for the purchase of the seven newly-constructed income-qualified homes.
The New Neighborhoods Initiative is a collaborative effort made possible by $750,000 in grant funds awarded from the Nebraska Department of Economic Development, $728,000 low-income tax credits from the Nebraska Investment Finance Authority, $443,000 in federal grant funds from Nebraska Department of Economic Development, $769,000 from City of Ord Sales Tax funds, $400,000 in Tax Increment Financing, $154,000 in donated land from the Loup Valley Investment Club and $800,000 in donated materials and labor from the City of Ord.
The New Neighborhoods Project was initiated in 2008 to meet the demands of a growing workforce in Ord and Valley County. Two independent housing studies revealed a strong need for new housing in the Ord area.
Project partners include the City of Ord, the Loup Valley Investment Club, Greater Loup Valleys Activities, Inc., Valley County Economic Development, Central Nebraska Housing Developers, Nebraska Department of Economic Development, Nebraska Investment Finance Authority, Mesner Development Company, Horizon Bank and Midwest Housing Equity Group.
If you are interested in the rental units for residents age 55 and over or have interest in building a new home at the Rolling Hills site, contact Caleb Pollard at (308) 728-7875 or email@example.com.