NORTH MANCHESTER - A 92-acre housing development targeting middle-income families may soon become a part of North Manchester's community.
Twenty-five years of discussion and debate regarding the small town's housing needs have culminated in a potential $545,000 purchase of land along the north side of Ninth Street near Ind. 13, where a higher-end housing development facilitated by the Town may shape up.
Town Manager Dave Schoeff said that while many of the details are still being worked out, the Redevelopment Commission and the Town Council are in talks with Peabody Retirement Community to purchase the land and a "highly qualified and interested developer" has already emerged.
Early Town estimates indicate the lot can house up to 140 new homes with a market value around $150,000-$200,000 each.
The public is invited to attend a public hearing at 6 p.m. Wednesday, Sept. 2, in the Town Public Safety Complex, 709 W. Main St., regarding the Town's desire to purchase the 92-acre lot and its proposal to issue bonds to cover this cost.
Creating space for new housing, particularly homes in a higher-end market, has been on the Town's agenda for many years, but according to Schoeff, "no land was available in a large enough quantity and no developer was interested in coming to town" for the past two decades.
Following comments and concerns from North Manchester residents during a strategic planning session last fall, the Town has decided to step in to facilitate housing growth by purchasing land and pursuing developers interested in taking over the property.
"It indeed has been a topic of discussion and frustration for a long time that there has not been anywhere in our community to build a housing development," Julia Felgar, owner of Manchester Realty, said. "There are potential residents who really like North Manchester and all the amenities we offer, but cannot find the type of home they desire within our present housing stock.
"Those folks are looking for a new home that is a 'turnkey' residence, one that does not require any renovation and will be maintenance-free for many years. New homes in a new development will fill that need."
Schoeff added that he and the Redevelopment Commission have met with Keith Gillenwater, president and CEO of the Economic Development Group of Wabash County, who advised the Town invest in new housing, among other things.
"A lot of industries look at that before they move into a community," Schoeff said. "It's definitely another piece of our quality of life issue that we're trying to make look good for future jobs."