PELLA — Kading Properties, LLC broke ground with community and city representatives for a new workforce housing development in Pella.
View Pointe Condominiums, located near W. 16th Street, will include 92 rental units of single-family duplexes and town homes. Cost of construction is estimated at $5.8 million, with the total cost of the project valued at $10.8 million. Units will range from 1,000-1,400 square feet in size and cost $850-1,300 per month, depending on size and model.
“Our goal is to be just under that $1 per square-foot price for workforce housing,” says Karie Ramsey, Kading Properties CEO. “That’s tough to do with new construction prices today, but we’re dedicated to bringing housing to the workforce. That’s what we strive to do and are committed to that.”
Ramsey anticipates a road to be paved to the property by October and vertical construction to begin by the end of this year. Ramsey anticipates renting out the property in phases beginning July 2021.
“We are so glad that they are here and that they chose our community,” says Karen Eischen, executive director of the PACE Alliance. “This is a huge need for our community. We have great companies that attract a lot of employees with great jobs and great wages, but we don’t have anywhere for them to stay right now.”
A Marion County Housing Assessment conducted in 2018 identified the need for an additional 966 housing units by 2025 to meet the city’s housing needs. Of the 966 housing units, 317 are needed for rental use.
“There’s been a lot of discussion over the last four to five years about workforce housing and lack thereof in Pella,” says Mayor Don DeWaard. “We have people who leave town to go to work, and we also have people who travel here for work. On any given day, there are 5-6,000 people that come into Pella to work. Projects like this will help move those people here.”
Kading Properties, LLC is a family-owned property management company and has been serving clients since the mid-1970's. The company currently manages 1,500 properties within a 60-mile radius of Des Moines, and Ramsey says they anticipate their properties to grow to 2,000 within a 120-mile radius by 2021.