Ardmore Strikes Deal for New Homes

10-19-06 - The Ardmore Development Authority took a big step forward this week in putting an end to the housing shortage. The ADA reached a deal with three builders to develop a housing addition off Highway 70 with homes built with middle-income families in mind.

The city rezoned 175 acres from industrial to residential on the west side of town. That's where contractors will build the housing addition known as Hickory Ridge.

The first phase will include 31 homes, but developers have plans for 175.

Under the contract agreement, each home must be three bedroom one and three quarters bath and sell for 75 dollars a square foot. That will run buyers anywhere from 85 to 115 thousand dollars per home, a price that's hard to find right now.

Most city development authorities don't get involved in housing projects. Ardmore realized in order to grow economically, you must have affordable housing.