Cottonwood Crossing seeking expansion
Since opening in 2017 Cottonwood Crossing has consistently had a waiting list, especially for its duplex units located at SE 24th and I-135.
The $5 million project with 42 units, 32 apartments and five duplexes, had 10 units leased before it opened. And now, the development is looking to expand.
What is on the table now was platted as Phase II and Phase III of the project when the project launched.
According to a 2019 study performed by the city which found that the city is in need of housing.
"We are short on all kinds of housing, including rental, owner occupied at all price points," said Kelly McElroy, city manager for the city of Newton. ".. We are really pleased with this proposed development."
The expansion is expected to add 50 duplexes, or 100 housing units of 1,550 square feet each, with three bedrooms and two and a half to three bathrooms (depending on the floor plan), and a two-car garage. They will be universal build, slab-on-grade, with a safe room/storm shelter built in. Each unit will be valued at $249,900 or less.
The proposed development will be directly to the south of the existing Cottonwood Crossing and includes 3.6 acres of City-owned property just east of Fire/EMS Station 3.
This week the city commission approved a letter of intent to pursue a development agreement for the expansion.
Total investment for the development is expected to be about $23 million. The developer, Building Kansas LLC, will pay for all expenses in the development of the project area, including the cost of the public infrastructure.
Building Kansas is owned, in part, by local developer Al Vogts — who announced a commercial development in North Newton this week.
In exchange, the City’s letter of intent includes a good-faith pledge to: Initiate the creation of a Rural Housing Incentive District (RHID) for the project area; Contribute $200,000 toward construction of the public infrastructure; Initiate an application for a Moderate Income Housing grant of $450,000 from the Kansas Housing Resources Corporation; offer a $100,000 credit toward water and sewer tap fees and building permit fees for the development; and .give the 3.6 acres of City-owned land east of Fire/EMS Station 3 to the developer.
In exchange, the developer will rezone and plat the land and construct a public street to provide access to the development.
The city will not incur any costs until the project moves forward.