Humboldt’s residential expansion is well under way with the creation of 11 new lots on the east side of 101st Street in the city’s south end.
On Monday, July 28 at the regular meeting, City Council entertained a report on the proposed table of prices for those lots to be sold to public homebuilders or private contractors. The offers are going up as the City is investigating the costs for providing services to the lots, the report says.
Pricing for the lots was determined based on development costs and comparable lots being offered by current developers. Considerations also included lot views, school and parks proximity, lot depth and shape, proximity to old lagoons and availability of retail commercial outlets.
The majority of lots are being offered at $115,000 for an 8712 square foot lot. A single larger corner lot of 8712 square will go for $144,000.
City manager Joe Day said that marketing materials are being developed to introduce the lots for purchase in the next few weeks. The City is also monitoring interest to see if a lot draw may need to be an option to ensure a transparent dissemination of the lots.
Council approved the report with the accompanying lot prices at the meeting.