An Indianapolis developer plans to begin land development work in September on a new subdivision that eventually will bring more than 300 homes to the northwest side of Columbus.
Arbor Homes is currently working to obtain the necessary permits from local, state and federal agencies for the Abbey Place subdivision, which will be built between Indianapolis Road and Interstate 65 near the Princeton Park subdivision.
Once the permits are obtained, the company anticipates putting in infrastructure such as sanitary sewers, storm drainage and water lines during the first week of September, said Mike Campbell, vice president of acquisition and development with Arbor Homes.
The company is planning to build 313 lots as part of the development, which has been discussed with the city since November 2016. Arbor Homes received permission from the city last year to rezone and annex more than 150 acres for the proposed subdivision.
A preliminary plat for Abbey place was also approved by the Columbus Plan Commission last November.
Campbell said the company could possibly begin building homes this year depending on how fast land development work is completed. He added that Arbor Homes would like to have a model open in the first quarter of 2019.
“We would love to be in pre-sales by the end of the year,” he said.
Neighborhood concerns
But increased traffic remains a concern for those who live in the Princeton Park neighborhood with the addition of the Abbey Place subdivision, said Bob Kasting, president of the Princeton Park Homeowners Association.
Kasting, who has lived in Princeton Park for 18 years, said many neighbors already experience traffic woes on U.S. 31.
“We see the possibility it will be worse with additional housing,” Kasting said.
Kasting said he would like to see steps taken by the city, county and state to upgrade roads, especially the intersection of U.S. 31 and Lowell Road, to handle a projected increase in traffic. He also suggested adding another stop light in the area.
“Traffic piles up at that intersection,” he said. “I’d like to see the infrastructure improvements improve when the need arises.”
Princeton Park residents had voiced concerns to the city about increased traffic due to the new subdivision during a series of meetings about the project. However, Arbor Homes eventually agreed to make improvements in the area after a traffic study was conducted.
Improvements planned include a roundabout at County Road 200 West to accommodate traffic in the area, Campbell said.
“We’re working with staff to make sure they get incorporated with the appropriate section,” Campbell said.
Based on the company’s current timeline, Arbor Homes expects to build an average of 50 homes annually. Campbell, who declined to reveal the price ranges for the homes, said various floor plans will be available for prospective home buyers to choose from.
“We’re excited to get started and we believe it will be a successful project not only for the community, but the city of Columbus,” Campbell said.
Housing demand
The city, like much of Indiana, has been facing a housing imbalance. That concern has come up in the Envision Columbus strategic planning sessions being held.
The housing market statewide last year showed strong demand and low supply, contributing to a 6.6 percent increase in home prices during 2017 — the Hoosier state’s largest annual increase since 1991, according to a new report from Indiana University’s Kelley School of Business.
The increase in median sales prices in Bartholomew County was 7.7 percent for all of 2017. That trend has continued through May of this year, with median sales prices in Bartholomew County up 7.6 percent, according to the Crossroads Association of Realtors.
In May alone, the number of homes listed for sale in Bartholomew County was down 31.9 percent — from 310 last year to 211 this year, the Columbus-based association reported.
Year-over-year variances in Bartholomew County’s housing inventory have ranged from 20 percent to 39 percent during the first five months of this year.
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The inventory of homes for sale in Bartholomew County has been down year-over-year every month of this year, through May. Here are monthly statistics, comparing 2017 and 2018 numbers, with percentage variance.
January: 311;242;-22.2 percent
February: 291;233;-19.9 percent
March: 303;185;-38.9 percent
April: 299;193;-35.5 percent
May: 310;211;-31.9 percent
Source: Crossroads Association of Realtors.
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