FAIRBORN — The Waterford Landing residential subdivision in Fairborn is ready to proceed into its third phase, which is expected to result in 56 more single-family homes on nearly 17 acres of land.

Fairborn City Council approved a resolution at Monday night’s meeting to open up section three of the housing development located near the intersection of Interstate 675 and Yellow Springs-Fairfield Road.

Construction is expected to begin in late summer, city planner Keith Brane said.

Waterford Landing — a 146-acre area that city officials said is the third-fastest growing housing development in the Southern Ohio/Northern Kentucky region — broke ground back in June 2010. About 80 of the 87 previously approved lots have been sold, Brane said.

“This moves us forward; it moves the city ahead,” he said. “We’re fortunate that we’re getting homes built in this fiscal environment. We appreciate Design Homes (& Development Company) and Ryan Homes (the builder), and we appreciate their interest in our city.”

Lance Oakes, representing DHDC, said two different lot sizes are being sold — 60-foot lots priced from the high $190,000s to low $200,000s and 70-foot lots ranging from $225,000 to $250,000.

He said there are a number of factors as to why Waterford Landing has been a success since its inception, namely the cooperation from the city staff throughout this project, Wright-Patterson Air Force Base’s strong presence and the “pent-up demand in the city of Fairborn for something new.”

“Waterford is meeting the needs of those residents,” Oakes said. “With Calamityville and a number of new businesses, jobs is the key. Keep those coming, and you’ll see homes coming no matter where you’re at.”

Brane said he anticipates seven or eight sections in total, and when completed, Waterford Landing — in addition to the residential homes — will also feature lifestyle, business and condominium components.

“I think it’s going to be a crown jewel for the city of Fairborn, and it’s already proven to be that,” Deputy Mayor Stuart Snow said. “We welcome them with open arms continually and we look forward to seeing more development going on at that property.”

Contact this reporter at (937) 225-2281 or smatthews@coxohio.com.