Dana Point begins construction on more rental homes in Cornerstone

Construction crews began digging basements for five new rental homes and one spec home on East 3rd Street in the Cornerstone Development.
    The homes are being built by Dana Point Development. They are the same developer that built the first 10 rental homes in Heather Estates on 2nd Street in Cornerstone.
    The company also built and sold four spec homes on Holland Street while constructing the rental homes.
    Brian Clark, Dana Point’s project manager, said they plan to begin work on the foundations later this week.
    He said they want to have all six homes completed by the end of the year or in early 2018.
    He said the Imperial project  is the first of four projects beginning in Nebraska this summer. Clark said they are also launching building projects in Madison, David City and Waverly.
    In August 2016, Dana Point Development won a $786,000 Nebraska Affordable Housing Trust Fund grant to build more rental housing in Imperial.
    The grant was one of two awarded in last year’s funding cycle. The program is administered by the Nebraska Department of Economic Development.
    The Madison and David City projects are being funded through DED, as well.
    Clark said Dana Point recently won approval in the last round of funding for projects in Norfolk and Kearney.
    All these projects will keep them busy over the next 12-18 months, he said.
    He noted they had hoped to begin construction on the Imperial project by late May. However, they were awaiting the green light from the Nebraska Energy Office.
    Because of the state funding on the project, they needed the energy office to sign off on specs before construction work began.
    In April, Dana Point purchased the first four lots on the north side of East 3rd (lots 9-12) in Block One of the Heather Estates Second Addition. They also purchased lots 14 and 16 further east in Block One.
    Clark said four income-restricted rental homes will be built on lots 9-12. They will also build one income-restricted spec home for sale as well as one market rate rental home on their other two lots.
    Unlike the homes on East 2nd, the new homes on East 3rd will have basements, he said.
    Development of the infrastructure on East 3rd Street began in the fall of 2015 with paving from Holland Street east to Hwy. 61 which was completed in the spring of 2016.
    Two businesses have constructed new buildings at the east end of 3rd Street. They include Rusher Hardscape and Sprinklers and Matt Hanna’s ACI crop insurance and ASD seed dealership.