Spearfish aims to fix the aging housing crisis
RAPID CITY, S.D. (KOTA) -Dream Design International along with the City of Spearfish partnered up to build an affordable workforce housing development called Sky Ridge, located south of Colorado Boulevard and west of the U.S. Highway.
Dream Design’s goal is to make sure that each family can sustain their living while maintaining any expenses related to the upkeep of their homes.
2021 Census data shows that the median income in Lawrence County is 26,125, so buyers must be at...or fall...below 115 percent and 125 percent of that income to meet the U.S. Department of Housing and Urban Development’s requirements on home loans.
Kyle Treloar, Vice President of Dream Design International says that this new community will thrive, but it must have diversity with people of all backgrounds.
Treloar states “When you look at a community, you need to have all the demographics to make a healthy community. There are people that work in shops and stores and you cannot just bring in all professionals or retired people, and then have a healthy community. Make sure that you are providing homes for the kids who just graduated or the young families that they can afford and still work the positions that they work in.”
To make buying the newly built homes easier, Black Hills Community Bank evaluated more than 500 applicants to determine their affordability options...to keep costs down for both the homeowner and the builders. Construction will be visible on Sky Ridge over the next few years. The current design includes more than 150 lots for homes.
The goal with Dream Design is to complete more than one home each week. City Inspections along with final walkthroughs from Dream Design are underway for each home.
Homeowners will be able to receive a one-year warranty for any structural issues such as walls and foundations. The first family to move in will be on June 30th
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