Zoning approved for housing development
Ponca City Now - December 9, 2014 11:20 am
City commissioners approved a request for a zoning change to allow a new housing addition to be built near Highland Avenue and Waverly Street, at the site of the former Airline Drive-In Theater.
Zoning was changed from C-2 General Commercial to R-1 Single Family Housing. Commissioners also approved a Planned Unit Development Overlay District, which will give the builders flexibility within the addition for minor alterations to lot sizes and setbacks.
The developer of the property is Highland Park, L.P., of Oklahoma City. Following approval of the zoning changes, the developer’s intent is to build immediately. Initial construction will consist of excavation, grading and installation of public utilities.
Highland Park, L.P., will be the sole owner of the development, including all homes, the clubhouse and land, for 15 years. At the end of 15 years, homes can be sold at market rates and a Homeowners’ Association will be established.
The addition will consist of 40 brick homes, which will be three bedroom, two bath homes of 1,300 to 1,600 square feet. Each will be rented during the initial 15-year period. Those who rent the homes may have a portion of their rent applied to the purchase price if they wish to buy the home in 15 years.
The developer has agreed to dedicate an additional 20 feet of right-of-way on Highland Avenue to the city for future widening to four lanes.
The project is funded as a tax credit project approved by the Oklahoma Housing Finance Agency.