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City of Ord Announces New Neighborhoods Ceremony

(Ord, NE) – After two years of planning and research, the New Neighborhoods Project is moving full-steam ahead.  An official groundbreaking is scheduled for October 28th, 2010 at 1 pm, at the Rolling Hills project site.  This project will provide 40 new housing units developed over two phases and will invest $9.6 million dollars into Ord and the surrounding area over the course of seven years.

Phase One includes the construction of six rental townhomes (twelve total units) for residents age 55 or over that income-qualify.  Phase Two will construct 28 single family units, seven of which will be designated for families that income-qualify.  21 homes will be designated as market rate homes.  You can download a final building plan of the new housing development here (.pdf).

Phase One bids have been awarded with 100% of local contractors utilized in the construction of Rolling Hills Townhomes.  Phase Two will also have Down Payment Assistance available for the purchase of the seven newly-constructed income-qualified homes.

The New Neighborhoods Initiative is a collaborative effort made possible by $750,000 in grant funds awarded from the Nebraska Department of Economic Development, $728,000 low-income tax credits from the Nebraska Investment Finance Authority, $443,000 in federal grant funds from Nebraska Department of Economic Development, $769,000 from City of Ord Sales Tax funds, $400,000 in Tax Increment Financing, $154,000 in donated land from the Loup Valley Investment Club and $800,000 in donated materials and labor from the City of Ord.

The New Neighborhoods Project was initiated in 2008 to meet the demands of a growing workforce in Ord and Valley County.  Two independent housing studies revealed a strong need for new housing in the Ord area.

Project partners include the City of Ord, the Loup Valley Investment Club, Greater Loup Valleys Activities, Inc., Valley County Economic Development, Central Nebraska Housing Developers, Nebraska Department of Economic Development, Nebraska Investment Finance Authority, Mesner Development Company, Horizon Bank and Midwest Housing Equity Group.

If you are interested in the rental units for residents age 55 and over or have interest in building a new home at the Rolling Hills site, contact Caleb Pollard at (308) 728-7875 or calebpollard@frontier.com.

3 Responses to “City of Ord Announces New Neighborhoods Ceremony”

  1. Concerned Says:

    Sounds good. But I only see 4.3 million on hand where is the other 5.3 coming from? More bonds and a raise in our taxes. Another thing, There are already 50+ houses for sale here in Ord. Adding another 40 will only make my house worth less and I would never be able to sell it for what I paid for it. I do not see a need for more houses in a town that is getting small and No real business coming in that will bring new families in. Personally I think it is a waste of time and money.

  2. ord-editor Says:

    Concerned – the additional funding comes from private investment through home construction and sales. If you’d like to see the project budget, I would be happy to show that to you.

    After rigorous research with a 3rd party firm, in two separate housing reports, each found a very distinct need for new housing stock. While I can completely understand your frustration with the housing market due to national factors, between Jan. 09 and July 10, 43 homes were sold in Ord; a record for our major local realtor. 14 of those 43 were homes over $100k. These 40 homes will be built over the course of the next 7 years; not all at once.

    I would suggest offering your input to your local council member, the mayor or come to my office if you’d like to voice your opinion.

    Furthermore, I completely disagree with your assertion that our town is “getting small and No real business coming that haven’t brought new families in.” You know as well as I do that Ord has seen a massive influx of private investment and new business creation – something that Valley County, the City of Ord and Valley County Economic Development would be happy to prove on a regular basis. We’ve seen 106 new businesses call our area home since 2000, and over $85 million of private investment as well. I’m sorry to say you are misinformed. If you would like a breakdown of the investment, job creation and more, visit this blog post for proof: http://www.ordnebraska.com/new-blood-in-valley-county/

    If you would like to continue this dialogue, I invite you to respond to my rebuttal, but offer proof instead of rumor.
    ~ Caleb Pollard

  3. Ord Nebraska » Blog Archive » New Neighborhoods Groundbreaking Today Says:

    […] can read up on project details here.  We hope you can make it and celebrate another investment into the future of Ord! Ord New […]

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