Zionsville is already home to The Village, but the town could also be home to The Villages, a new subdivision Pulte Homes hopes to build.
David Compton, Pulte Homes of Indiana vice president of land acquisition, said the development would be on three of four corners at the intersection of Whitestown Road and County Road 875 E. The subdivision will have a total of 227 lots on nearly 137 acres.
“We’re still pretty preliminary on the features of the community,” he said. “It will feature both traditional two-story homes and empty-nester homes, which are targeted toward allowing people that have lived in Zionsville their whole life to stay in Zionsville.”
Compton said the project is a follow-up to Cobblestone Lakes, and if the project is approved, it would take from five to six years to build.
“If everything is successful, we hope to break ground next year,” he said.
Compton said the size of the development, which he considers a small to mid-size subdivision, represents the economic times.
“It’s a slow bounce-back,” he said. “Zionsville has done better than other municipalities due to the high quality of life and related high-quality school system.”
Wayne DeLong, Zionsville director of planning and economic development, said his office has seen more filings for housing developments with the rebound of the economy.
“Many communities weren’t seeing any filings for years because of the housing market downturn, and Zionsville was not immune to that,” he said. “In the last 18 months, the town has seen, reviewed and completed The Domain apartment development, Blackstone, and now we’re into the Pulte filing. Now that the outlook is improving, we are seeing a more robust activity.”
According to the Metropolitan Indianapolis Board of Realtors, the local housing market has show strong growth in September and the last quarter.
A joint release from MIBOR and the Indiana Association of Realtors said the “number of closed sales in central Indiana increased by 21 percent in the quarter ending in September 2013 when compared to the same three-month period last year.”
The Boone County housing market is also on the upswing, according to MIBOR.
“During April to June 2013, the number of closed sales in Boone County increased by 27.9 percent when compared to the same three months in 2012,” a MIBOR press release stated. “Closed sales increased by 49.5 percent in the June-only comparison within Boone County.”
The Villages plans will be up for review during the next plan commission meeting at 7 p.m. Monday, Nov. 18, Town Hall Beverly Harves Room, 1100 W. Oak St.