A proposed subdivision could bring about 250 new homes to Greenwood in the coming years if the city council agrees to annex 100 acres of farmland by the end of the year.
Lennar Homes, a Miami, Fla.-based developer, wants to build 251 single-family units just east of State Road 135 — at the northeast corner of where Tracy Road becomes Smokey Row Road, between Honey Creek Road and County Road 125 West — with an average price tag of $228,000, according to city documents.
The company already has one subdivision in Greenwood. Houses in the South Lake community near the Worthsville Road and Interstate 65 interchange range in price from $245,000 to $293,000, according to its website.
The new subdivision would be located in the Clark-Pleasant school district. If approved, it would add an estimated 18 students per year to the already fast-growing district.
At full build out, the new subdivision is expected to bring an additional 625 people to the area. That estimate is based on 2.5 people living in each home, city documents said.
In order for the project to move forward, the city council would have to approve the annexation of two properties before the end of the year. Indiana cities and towns cannot annex properties in the year before a Census.
Currently, 60 acres are owned by one farmer, with 39 acres being owned by another.
"The farmers just want to sell it and make the money," said Bill Peeples, Greenwood’s planning director.
If approved, homes would likely be available by the end of next summer, Peeples said.
Lennar plans to build about 40 homes a year. Four or five homes could be built on each acre under the zoning rules, documents said. But that likely won’t be the case considering the number of homes the developer wants to build.
Lennar houses range in size from 1,775 square feet to 3,488 square feet. Most have three or four bedrooms and two bathrooms.
The city would bring in about $948,000 in taxes and fees over the course of development.
Council members will vote on the annexation on Nov. 7. A public hearing is scheduled during that meeting. The proposal will have to go through one more round of votes after that to be approved.
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The Greenwood city council is considering annexing 100 acres of farmland just south of the city line for the development of a new subdivision that, if approved, would likely start being constructed by the end of next summer.
Builder: Lennar Homes
City: Greenwood
School district: Clark-Pleasant
Price: More than $200,000
Type of houses: Single-family
Number of houses: 251
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