SPEARFISH, S.D. — On Wednesday, the City of Spearfish hosted a groundbreaking ceremony along with several local officials, dignitaries and community stakeholders for Sky Ridge, a workforce housing development that is now officially under construction.
Sky Ridge is located south of Colorado Boulevard and west of U.S. Highway 85 in the Exit 17 area off Interstate 90.
“We are excited to be here today to begin construction on this project and bring the dream of home-ownership one step closer for 150 families,” Mayor Dana Boke said, explaining that developing more affordable housing has long been a priority for the City.
In 2013, an issue of affordable housing was brought to the attention of the city in a housing study. The City of Spearfish then put a plan into action into developing a workforce housing project.
Six years later, the groundwork has been laid and property has been purchased as the city looks provide more affordable housing for its residents.
Per a press release from the city, Mayor Boke and the City Council have been working together with the private industry and worked to establish a plan that will allow a public-private partnership for the city along with the developer of the project, Dream Design International Inc.
Sky Ridge will feature 150 lots, and will have be developed in phases of over five years. Houses in the development will not be sold at a price point that exceeds the South Dakota Housing Development Authority’s First-Time Homebuyer Program, which is $275,000.
The project requires that about 80 percent of the homes (120) be sold at or below $225,000. The homes will be in the realm of 800-1,700 feet in square footage.
“We are thrilled to be part of this project,” Hani Shafai, president of Dream Design International, Inc., said. “Sky Ridge is one more place where we can live out our desire to be a helping hand in community growth, and we look forward to constructing a beautiful neighborhood on this site.”
The city says that construction for a timeline of the build out of the homes will make 30 homes available for construction each August. Construction will begin in 2021, with the first homes being available in the development and ready for occupancy in the fall of 2021. The city will be responsible for building the public infrastructure at Sky Ridge.
Space for sports complexes has also been included in Sky Ridge’s design and could feature seven regulation soccer fields and four regulation softball fields.
“Sky Ridge will be an incredible addition to Spearfish in so many ways,” Kory Menken, executive director of Spearfish Economic Development Corporation, said. “Workforce housing is a major need almost everywhere, and I applaud the City of Spearfish and its partners for being proactive, leading the conversation, and making Sky Ridge a reality.”
While construction gets going, income qualifications will be put in place for homebuyers, who will be separated into three separate categories.
- Category 1: Homebuyers that fall in this category fall in the $175,000 price range. This is restricted for those that are in the 12 percent federal income tax bracket.
- Category 2 & 3: Homebuyers in this category are in the $225,000 price range and for those that fall in the 22 percent federal income tax bracket. .
A home is available to all buyers once a certificate of occupancy is issued.
Those with questions or who are interested can click here or call Dream Design International at 605-348-0538 for more information.