Last December, Ron Stenger Cos. announced plans for the Hickory Valley subdivision, just outside Springfield city limits. What was the catalyst? We go with what the market dictates. If we see we are running out of inventory for the builders, then we start the process of another phase or, in this case, a new subdivision.
We wanted to offer a development that had different restrictions than the Lakes at Wild Horse, give it its own personality. We are looking at different building standards, a different variety of house you can build in there. Typically, our subdivision standards are all brick or stone, but we have been seeing a lot of changes in the industry and people moving away from all brick. Right now, you can’t do much if you don’t do brick. This is the tip for us to try and create something new. Hardie back siding is very popular now and the craftsman style look.
It’s an 80-acre tract that we are developing independently of Wild Horse. We are just getting ready to start it in the next 60 days. The first phase should be around 30 lots.
The company announced a second subdivision, Overland Heights, less than a month later. Can Springfield support this growth? After 2008, the development world basically shut down. Nobody was doing any building and not a lot of sales were going on. As real estate developers, we just had to sit and wait for the market to come back. We made a choice as a company; instead of dropping our prices in our subdivisions and just trying to clear them out, we didn’t want to upset the integrity of what we had already built. We just held until the market came back. Finally, it is, and we can see the progress. We didn’t want to compromise our standards because it’s your reputation you build on. I think Springfield can support those standards once again. All the signs point to a healthy real estate market. We don’t sell lots unless the builders are selling houses. They keep coming back to buy lots.
You typically build outside city limits. Why? There isn’t much land available inside the city anymore. When we do a master planned community, we need some acreage. The perfect size for us is 40 acres or more. We can do 20, but you still can’t find those big lots of land in the city anymore, so we move out to the county. Someday, they will be annexed into the city, but until then, we develop under Greene County standards.
Where is the next boom area? Nixa and Ozark are booming already. They have had their boom and are continuing. I think the next undeveloped area is toward Rogersville. Just east of Highland Springs, I think there is big opportunity out there.
The other thing is Branson. There is a lot of development going on there with Johnny Morris doing his stuff and a lot of things coming into that market. Branson is changing and it needs a new look. The old guys in the theaters aren’t there anymore. Now, you are seeing a new dynamic down there; not so much theater-based as it is destination-vacation based. Top of the Rock brings a whole new clientele into the area.
Stenger Cos. also is building a 49-unit senior apartment complex on Catalpa Street. Where did this stem from? Ingram Mill Villas is a 55 and older community at Ingram Mill and Catalpa streets.
It’s one level, more like townhomes. There are only 43 units on five acres, so not very big. We sense there is a demand in Springfield for that age group. We get a lot of people who call us and say, “Our kids are gone, we don’t need this 2,500-square-foot house anymore.” They are looking for a well-maintained development where they don’t have to mow or do anything anymore.
This is our first senior living. We will be learning as we go.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
