The reduced land cost is intended to incentivize the developer to take the risk on developing the project , and help lessen the expenses passed on to the future buyers of the homes as part of the purchase price, Schmiesing said.
“The goal is for the project to be successful in meeting a community need for more new housing options while revitalizing the area and exciting additional interest from others to take on new construction infill and home rehabilitation opportunities in the neighborhood,” he said.
The homes will be designed to fit into the character of the neighborhood with two stories, two to three bedrooms and a front porch.
Plans are being made for a small park along the front of the property near Main Street along with a view of the Great Miami River to the rear, said developer Tim Forbess, chief executive of G.F. Bailey Co.
The homes will be built of steel and concrete using his company’s trademarked StormStrong system designed with 155 mph wind resistance and noncombustible material, Forbess said. Each garage has a car charging port and high density insulation is used in the homes for high energy efficiency, he said.
“We don’t just build houses, we try to redevelop neighborhoods. It is a holistic neighborhood approach,” Forbess said.
This project is his company’s first in Miami County.
Piqua City commissioners said they liked what they saw.
“The product you are offering sounds like a great product,” said Commissioner Kris Lee.
“It would really improve that area … (It would be) the tip of the iceberg,” said Commissioner Cindy Pearson. “We appreciate your foresight.”
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