FORT WAYNE, Ind. (WANE) – City officials on Wednesday marked the beginning of construction on a housing development in southeast Fort Wayne that’s the first of its kind in half a century.
Roosevelt Reserves is the largest development consisting of single-family homes on the southeast side in over 50 years, the city said in a release. The subdivision- which already has lots up for sale- is planned to include 131 lots on 126 acres of land at Tillman and Hessen Cassel roads.
According to the city, the subdivision has single-story and two-story homes with attached garages, and some lots include water views.
In the coming weeks, builders will begin construction of homes on lots that have already sold, the release said. Homes in the subdivision are estimated to be priced in the mid-$200,000s for certain models, as well as offering lots for custom builds.
The release said the total investment is expected to be about $40 million over the next three to four years.
The project is part of the Southeast Strategy Update, which the city said looks to provide opportunities for families to build wealth through home ownership and promote investment for the southeast side.