By Michele Owen, City of Muncie—
MUNCIE, IN—At Thursday morning’s Muncie Redevelopment Commission meeting, board members approved a purchase agreement of all 34 lots at Storer Estates. The project has involved developing the site of the former Storer Elementary school into a subdivision with 34 lots, a dry retention pond, and a park. The City has recently paved the streets in the subdivision and added a walking trail.
Mayor Ridenour explained that DR Horton, the largest home builder in the nation since 2003, had put in an offer for $1,020,000 to purchase all 34 lots. DR Horton has built in Pendleton and other Indiana communities, but were “very impressed with (Muncie), with where we are, where we’re going,” according to Ridenour.
MRC President Jeff Howe was enthusiastic about the offer. “The need for housing has amplified, while the source of housing has not,” remarked Howe. The commission voted unanimously to accept the purchase agreement, which will go into effect over the next few months, as DR Horton will begin work on the properties 8-9 at a time.
“This is a huge investment in our City,” commented the Mayor. “We’re confident this will only be the start of this developer’s work in Muncie.”
Learn more at https://www.drhorton.com/
