Plans for Condos to be Built in Milbank
Local News September 6, 2018 Staff Writer 0
The Grant County Development Corporation (GCDC) will host an open house to offer the community a chance to view the plans for a housing project the GCDC has been developing for 18 months. The project features a multifamily housing project in Milbank. Mayor Pat Raffety said, “I feel with the current job opportunities in the area and the recent need for housing in Milbank this is a very good solution.”
The open house will be held on Wednesday, September 19, in the back room at Speedway from 5:30 p.m until 8 p.m. and on Thursday, September 20, at the Visitor Center from 1 p.m. until 4 p.m. Hegg Developers and VanDeWalle Architects, both of Sioux Falls, will be on hand to discuss the concept and design of the project. (Hegg will be in attendance on September 19, and VanDeWalle on September 20.)
Scott Hoeke, GCDC board President, helped to answer some of the basic questions on the minds of local residents. He also encourages everyone to view the architectural drawings and get more in-depth answers at the open house.
How many units will the project have?
This has been a great topic of conversation. We are running performas to see just what the market will allow. Originally, we were looking at 48 units. This was the number the housing survey showed Milbank and Grant County were short in 2015. This study is now almost four years old, so we are looking for help with this question. Prospective buyers and potential investors will give us more input during our informational meetings on, not only the number of units, but also the size of units.
Will the units be for rent or for sale?
Our model has been built on purchased units. We hope to allow buyers the chance to retain equity in real estate as well as have input on design with respect to finishes in the units. We fully expect buyers to have the ability to personalize their units.
Where will the property be built?
At this time, the GCDC has a purchase agreement that will allow us to put the development on the old hospital property.
Is re-zoning required?
The property is zoned for multi-family units, but will require a variance for height.
Basic cost of the project?
This is a number that is fluctuating. Depending on number of units, we have a estimated cost of $5-8 million dollars.
What is the expected cost per unit for the home buyers?
Depending on the size of the project and size of the individual units, this figure will fall in the range of $150K-$200K per unit.
What materials are planned for the exterior construction of the building?
An upscale design enables us to use a variety of construction materials, whether it be siding or rock. The units will be a welcome backdrop in the community.
Absolutely. As any small community, we will do what we can to make sure local tradesmen will be included. Granted this will be a large-scale project, and timeliness will be of utmost importance. Contractors will have to be able to meet deadlines. But, we fully expect to see bids go out and be filled by as many local businesses as possible.
Who will make those decisions?
Ultimately, a local LLC will own this property. They will have the final say in construction decisions.
Who do you feel will benefit most from this project?
Grant County and the City of Milbank. We are short housing, and we need to get people moving to our area and staying here.
Hoeke concluded with, ” We need input. We need a collaborative effort to do this right the first time and move forward in our great community yet again.”
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