The first 25 lots in the new Siglin Estates planned unit development (PUD) on Woodward’s west side have entered the market, with prices ranging between about $43,000 and $80,000.
Wayde Burkhart, associate real estate broker with Remax Precision, represented both the buyer and seller of the 18 acres at the southeast corner of W. Fifth Street and S Avenue, which were bought in 2020 by the Keystone Equity Group LLC of West Des Moines.
The 25 lots in the phase-one project lie east of the unnamed tributary of Little Beaver Creek, which bisects the ground from north to south, and included the Woodward Little League fields, where single-family homes soon will stand. Phase two will see another 49 lots filled on the west side of the creek east of S Avenue.
“Woodward has a need for more single-family homes as well as homes for seniors and additional rentals,” said Burkhart. “Our current housing market is restricted due to the unavailability of new homes. We have many seniors residing in large homes because there are limited options for senior housing.”
Burkhart pointed to the success of the Ironwood Development as a prime example of the need for new homes in Woodward. The Ironwood lots all sold within 30 days of the city’s approval of the Ironwood Avenue construction plan in 2017. The six lots in the Ironwood Development increased the city’s property tax base by 10%, Burkhart said.
The Woodward City Council last summer approved rezoning the ground from agricultural to residential and revising the city’s urban renewal plan and tax increment financing (TIF) district in order to take in the new Keystone Equity Group project and use TIF to pay the $1 million cost of the two lift stations needed to connect the PUD’s sanitary sewer system to the Ironwood Avenue sewer line.
Among the contractors on the Siglin Estates PUD are Sandstone Management of Carlisle, Sande Construction of Humboldt and Le Febre of Elk River, Minnesota.
Grading on the phase-one lots began last fall. Underground utilities and street paving were completed in April. J. D. Albright with the Keystone Equity Group told the city council Monday that his company is ready to start marketing the development and will soon begin building five houses. Interested buyers can contact Albright at 515-897-9062 or by email at firstname.lastname@example.org.
The city of Woodward has estimated the fully built out Siglin Estates PUD will add about $15 million in value to the city’s tax base.