FORT WAYNE — Housing demand in the Leo-Cedarville area has a Fort Wayne company investing at least $3 million to create a new subdivision.
Oakmont Development Co. on Thursday gained approval for its primary plan to create Deer Hollow, a single-family addition with 58 houses, near Deer Track Golf Course. The Allen County Plan Commission gave the green light, but county commissioners still have to approve a residential rezoning request.
According to the U.S. census, Leo-Cedarville’s population has increased nearly 30 percent to 3,603 residents since the 2000 census. Small town, sure, but one that is seeking residential options, said Jeff Thomas, a representative with Oakmont Development.
“It is an area that is growing, and we believe there is a demand for new housing,” Thomas said. “We’re looking forward to it.”
Home prices would start around $300,000 with three- and four-bedroom layouts.
Leo-Cedarville Town Council Vice President Tim Richards said although the project is outside municipality limits, it no less will “help spur more development.”
“Anytime you have development, you like to hear that,” he said. “Growth is good and can only benefit the small businesses in our community. We suspect more development in the town limits in the future. Hopefully, (Deer Hollow) will help that.”
Early this year, Thomas launched the Tuscany, a $7 million to $8 million subdivision in Perry Township. The plan commission approved the 156 single-family residential project in February. Homes will range from $200,000 to $350,000.
Last week, the Home Builders Association of Fort Wayne said there were 646 Allen County residential construction requests so far this year, compared with 637 building permits during the same period a year ago. The average sale price this year is $226,191, compared with $184,929.