A neighborhood of nearly 200 single-family homes built in 1990 as base housing is now slowly coming onto the market.
A group of local businessmen in 1990 formed the Rapid City Defense Housing Corp. in response to a request for proposals from Ellsworth Air Force Base for new base housing. The corporation built the Dakota Ridge development, which is off Minnesota Street near S.D. Highway 79, and leased it to Ellsworth for 20 years, the same term as the group’s mortgage on the properties.
Now, the lease has expired, the mortgage is paid off and the corporation is looking to sell the homes. Corporation Vice President Ken Kirkeby is handling the sales through his Lewis-Kirkeby-Hall Coldwell Banker firm.
Thirty-two homes have been sold, 19 are on the market and 145 are still being leased to base personnel, who can keep leasing them or who can buy the homes through a lease-to-own plan.
Kirkeby said the corporation is not putting all the homes up for sale at once to avoid flooding the market. The most that will be on the market at a time is 25.
There are five floor plans of three- and four-bedroom homes, priced between $159,000 and $175,000, sized between 2,007 and 2,419 square feet, including finished and unfinished space. The corporation has updated the homes with new siding, roofs, decks, gutters, flooring, countertops and more.
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The corporation took out a loan and used insurance settlement money from hail damage to pay for the remodeling work, which it will recoup with the home sales, Kirkeby said.
The subdivision has been renamed Fox Meadow, and the upgrades should remove any “stigma” of being associated with base housing, Coldwell Banker broker associate Joe Bennington said. The neighborhood won’t be home to only transient Air Force personnel, the sales staff said.
“Now, when you’ve got all the exteriors remodeled, you feel that pride of place,” broker associate Karen Jones said.
The neighborhood includes a walking path system, tennis courts, new playground areas, a community center and a Montessori school, which is open to the public outside of neighborhood residents.
Fox Meadow residents will pay a $20 monthly homeowners association fee for maintenance of the other amenities. For information call Kirkeby at 343-2700.
Contact Barbara Soderlin at 394-8417 or at email@example.com.