An Indianapolis developer is responding to the growing demand for new home construction by building several pre-fab homes in a downtown Indianapolis neighborhood that is in the middle of revitalization.
The Founder of Indy Mod Homes said the homes will be modern, green and quick to build.
“Cool and contemporary, but I’m using that same idea of building pre-fab,” said Ursula David, Founder.
The homes are expected to be 20 to 25 percent faster to build than an average home.
“It’s surreal. We’re going to be going through this in a few months,” said Cheryl Rettig, who was joined by her husband Mike.
The couple is about to sign onto the project, and they hope to move into a home in the Cottage Hill neighborhood in November.
Neighbors said the development is welcome news. They want to see investments just like this in the neighborhood.
“It’ll attract interest. It will definitely attract interest,” said Dan Doll, the Cottage Home Neighborhood Association President.
Seventy percent of the scrap material that is used for the homes is recycled. Engineered wood and some other environmentally friendly options are also key to the project.
“That range from $275,000 to $350,000, $450,000, $500,000 is certainly growing. It’s a strong marketplace,” said Steve Lains, CEO of the Builders Association of Greater Indianapolis.
Lains said they are seeing a lot of action across Central Indiana, which is welcome news. He also said plenty of buyers are looking for smaller homes. This may be the result of an increase in construction materials and labor costs, which have impacted the total price of homes that are being built.
”People now are buying what they want space-wise. There aren’t those extra living rooms and dining rooms.”
“Why not when we’re so close to these factories that can do it?” asked David, who is working with a local architect who helped designed that homes that are being built in a Northern Indiana factory.
“We’re excited to get out of our apartment and get in here,” said Mike Rettig.
David is expecting to move into the first home, which she purchased for herself, in the next month.