“This property that we’re standing on today that is now Knightstead Estates has a long history.”
Andrew Bitely is Sable Homes Land Development Vice President. The Rockford-based construction firm is bringing much-needed attainable workforce housing to the Belding community.
“It was platted over a hundred years ago, which means it was divided up into a city block with lots and houses and everything, but it was never completed.”
Sable Homes is doing that now by utilizing Housing Tax Increment Financing. Doing so defrays infrastructure costs added to the cost of new home construction. Sable pays that cost up front and is repaid over time through future tax revenues.
“We really were able to make this project possible, pay for the infrastructure that we’re standing on here today and, more importantly, keep the houses at an attainable price point.”
A three-bedroom home near Gooding Street and Crooks Avenue starts at $260,000. Seventeen new homes will make up the new Belding neighborhood.
“A lot of credit goes to the city. They have a great Master Plan. They’ve made really positive strides to try and encourage people to come here.”
According to the U.S. Census Bureau, Belding has experienced slow but steady growth over the past few decades. Its current population is around 6,000 residents.
For a weekly dose of news right to your inbox, sign up for the WGVU newsletter.
