Bellevue housing market expands with Prairie Ridge
By JOHNNA YOUNG, The Bellevue Hospital
On Monday, Aug. 10, Bellevue Chamber of Commerce members, as well as city and county leaders, attended the official ribbon cutting ceremony of Prairie Ridge housing development, located at 201 Auxiliary Drive, adjacent to The Bellevue Hospital. During the event, tours were also provided of the completed model condominium.
“This is a great venture and collaborative effort to bring more housing to the Bellevue area and provide benefits for years to come,” said Michael K. Winthrop, Chief Executive Officer of The Bellevue Hospital. “As Prairie Ridge is developed, it is anticipated existing homes in the Bellevue area will become available for sale, providing more options for families.”
Prairie Ridge, which began in early 2019, consists of constructing a mixed housing development with both single-family lots and condominiums in Bellevue. Once completed, it has the capacity to have up to 45 residential single-family home lots and more than 90 condominium units.
“This project is nice because it provides both condos and residential lots for new homes, while also freeing up housing in the city for first-time homebuyers and others who would like to purchase an existing home within the city,” said Dave Sabo, Bellevue’s Economic Development Director. “The City of Bellevue is happy to be a part of this project. This is a great addition to the city. “
The project’s initial design phase began at the beginning of 2019. The 37 acres of land, which was owned by The Bellevue Hospital, was available and already annexed into the City of Bellevue.
“The Bellevue Hospital Foundation provided the initial funds to set up the infrastructure of the project,” Winthrop said. “As condos and home lots are sold, The Bellevue Hospital Foundation will be reimbursed a portion of the proceeds to offset the initial investment.”
The current phase, Phase 1, consists of 10 single-family lots and the potential for nine condo units. Contractors Design Engineering of Norwalk is the project’s design/civil engineer and general contractor. In addition, local subcontractors on the project include site contractor, Shortridge Construction of Castalia; 7 L Construction of Bellevue; Smith Paving and Excavating of Norwalk; and Prairie Ridge Builders of Norwalk, in conjunction with JMK Construction of Plymouth.
According to Gary Strayer of Howard Hanna Gary J. Strayer Realty, pricing for the condominiums will begin in the $250,000 range for an approximate 1,800-square-foot stand-alone unit with a two-car garage. The units are designed with two bedrooms and a study that could transition into an additional bedroom if needed. The front exterior will include shake siding and stone veneer on the garage. There are several types of units to choose from and those who purchase a condo also have choices of color for siding, type of stone and shingle colors. Condos also come standard with covered back porches.
Residential lots for single-family homes also are available. There will be an architectural board and set guidelines, but individuals can use a builder of their choice.
Individuals can also participate in the Community Reinvestment Area real estate tax exemption program in Bellevue. This program offers real estate tax savings by reducing the taxable portion of the property associated with the new construction or remodeling, up to 100 percent not to exceed 15 years.
“Prairie Ridge is a project that Bellevue has needed for a long time,” Strayer said.
“The city’s tax exemption program is an added incentive for those in the area who are looking to invest in a new home in Bellevue. “
According to Strayer, five residential lots and one condo have been sold so far.
For information on Prairie Ridge’s residential lots or condominiums, contact Gary Strayer or Terri Timmis of Howard Hanna Gary J. Strayer Realty in Bellevue at 800-589-4655 or 419-483-6620.