City, Thrive celebrate start of another housing effort

David Kronke , The Tribune-Star, Terre Haute, Ind.
Updated ·2 min read

“This project is going to be so awesome,” Thrive West Central Executive Director Ryan Keller said with enthusiasm at Monday’s groundbreaking for Bear Creek Townhomes at the southwest corner of Fruitridge and Hulman Streets.

The townhomes are part of Thrive’s Homes for the Future program. They are being constructed by Jon Mutchner Homes, whose owner is more low-key than Keller in describing the project.

“They’re a sellable product that’s attractive to a lot of people,” Mutchner said.

“They’re going to fly off the shelf,” Keller said.

Construction will begin later this month. Phase One — the first 42 of a projected 102 residences — is expected to be completed by early September.

Phase One will be the most expensive of three phases, because it will also deal with infrastructure issues on the land in question, such as leveling a sloping hill.

The townhomes will have three bedrooms, 2.5 bathrooms and a two-car garage. The development will also feature dog parks, sidewalks and greenspaces.

Each residence in the project will go for between $325,000 and $400,000, giving the project a market value of $35.7 million, Keller said.

Thrive, which was spending $1.8 million in READI 1.0 money from the Wabash River Regional Development Authority on the Homes for the Future project, chipped in $245,000, the most it could contribute under the initial RDA agreement.

Most of the remainder of Bear Creek Townhomes’ financial outlay will come from private investment, Keller said.

Speaking at the groundbreaking, Terre Haute Mayor Brandon Sakbun called it “another successful housing project. … We’re blessed to have builders.”

With a laugh, Sakbun then asked Mutchner, “Can I get you to do 100 more?”

Mutchner thanked the Wabash River RDA, the Indiana Economic Development Corporation and Riddell National Bank for providing funding for the project.

Thrive’s homes program seeks to kick-start private housing development at market rate. The goal is to meet the needs of a growing workforce and population in West Central Indiana.