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Forward Hill City Project

Forward Hill City Housing Project Launches


News Release - December 5, 2019

HILL CITY, S.D. - The Heart of the Hills Economic Development Corp. (HOHEDC) in Hill City is pleased to announce the groundbreaking ceremony for the new FORWARD HILL CITY Housing Project on December 4th at 2:00 pm. The ground breaking ceremony will be held at the Top O Hill Avenue and Buds Drive intersection in Hill City.

On Monday, November 25th, the Hill City Common Council voted unanimously to approve a long awaited $2 million-dollar Tax Increment Financing District (TIFD) for the FORWARD HILL CITY housing project. The TIFD will provide for infrastructure in the area of the development including paved streets, sidewalks, and water and sewer lines. This valiant project is the result of two years of research, planning, number crunching, overcoming obstacles and finally securing property and a developer by HOHEDC.

HOHEDC feels that in order to enhance the long term sustainability and vitality of Hill City it must first and foremost take the lead on what it entitled “Attainable Housing”- housing that a two-income family with children can afford in Hill City, which is $175,000 to $250,000. According to the Hill City Housing Study that was completed in 2018 and first-hand testimony from local realtors and home buyers, the inventory of houses in this price range has been severely limited or non-existent to date.

In order to make the project a reality, HOHEDC found an angel investor to secure the 6.5 acres on Top O Hill Avenue and then recruited experienced local developer, Jim Scull, Pink Cabin LLC, who has the good of Hill City at heart. A TIFD was needed to recover the extensive infrastructure costs to be invested by the developer so that they would not be included in the price of the lots and price the homes out of the target range.

Model homes will be constructed once the project plan has been finalized. The value of the development property when completed is estimated at over $7 million dollars. A first time home buyer class has been developed and is ready to implement in Hill City as soon as the lots are available. In addition, other sources of assistance are being contacted to help lower the costs of home ownership.



kbhbradio.com
Phone number: 605-347-4455
E-mail: [email protected]
Address: 1612 Junction Avenue, Suite #1
Sturgis, SD 57785
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