Crawfordsville details $14M housing project
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The city of Crawfordsville is partnering with Arbor Homes to develop a nearly $14 million housing development on the city’s north side. The city said Thursday the 173-home Hawkview development seeks to mitigate the challenges of housing availability in its workforce attraction efforts.
The cost of the project includes land acquisition and infrastructure work on the 60-acre site. The city said it plans to use Residential Tax Increment Financing to help with the infrastructure costs, pending local approval.
Mayor Todd Barton said the city’s biggest challenge in attracting top talent is a lack of available housing, and the Hawkview project is a “significant step forward.”
“We are fortunate to have unprecedented employment opportunities and a great quality of life,” Barton said in written remarks. “Increasing the availability of housing is the next step in attracting and retaining the talent needed for success.”
Crawfordsville has several major economic development projects with hundreds of new jobs in the works.
Kentucky-based Tempur Sealy International Inc. (NYSE: TPX) is preparing to open its $138 million foam pouring manufacturing facility this quarter. The project is expected to create 300 jobs, and the company began hiring last year.
In February 2022, North Carolina-based Nucor Corp. (NYSE: NUE) detailed plans to invest $290 million to expand production capabilities at its Crawfordsville steel sheet mill and create 80 jobs.
The average home in Hawkview will be approximately 2,300 square feet and cost $285,000. Arbor Homes said 31% of respondents to a housing market study conducted in 2021 said they were searching for homes and preferred a price range between $200,000 and $300,000.
Construction on the development is expected to begin in December 2024.