Homes are built on newly created land once purchased by home buyers. The model homes were the first to be built in the development, which saw the start of work on the site in 2019. Sales of homes for the development began in early 2020.
The developer of the project is DDC Management and the builder is Ryan Homes, who is also responsible for home sales.
As of December, 115 lots in Bridgewater had been selected by home buyers, said Ryan Reed, DDC’s program director. This includes houses that have been built since the start of the project as well as empty lots on which houses will soon be built.
The average selling price of homes in Bridgewater is around $ 241,000 Reed added.
Springfield has been in need of new housing for some time and is a top priority for officials who say the community is suffering from the aging housing stock. The area has seen an increase in demand for new housing, as new businesses have invested in the city and created new jobs over the past five years.
“We need all types of housing. It’s important that we have these housing options in the city, ”Tom Franzen, deputy city manager and director of economic development for the City of Springfield, told this news agency.
He added that the new housing can prevent residents from leaving the city and be used to attract new people.
Prior to the start of construction in Bridgewater, there had not been a major subdivision built in Springfield since the early 1990s.
The success of Bridgewater prompted DDC to consider creating another new subdivision in Springfield that would create 258 units on East Leffel Lane and South Burnett Road.
Development work, which will be called Sycamore Ridge, is slated to begin this year and will be a multi-phased, multi-year project that is slated to end in 2026.
A builder for this project has not yet been announced.