Interest from area homebuilders in the Country Meadows addition of Henrietta is on the rise, said Economic Development Director Rick Langford, and he wants the Henrietta Growth Corporation to keep it up.
Monday night, Langford told the HGC board of directors that three builders are looking a Country Meadows, the area first subdivided by Rick Belz and Tracy Smith of Energy Concepts, a Wichita Falls company that promotes high-end energy efficient homes.
One of the builders, from Bowie, has already constructed one home in the addition.
Langford suggested to the board that the HGC offer builders in Country Meadows an incentive similar to what is available for builders in Western Estates.
In February, the HGC board chose to offer lots in Western Estates to homebuilders with no upfront costs. The price of the lot would be attached to the selling price of the house, and the HGC would benefit from the sale of the home.
The HGC own the lots in Western Estates, but would have to purchase lots in Country Meadows at a cost of $21,500 each.
“It’s basically an interest-free loan,” said Langford. He said there would be risk, though it would be a very low risk.
There are currently no homes under construction in Henrietta.
“The longer we go without building homes, the fewer homes we have in our inventory,” said Langford.
Belz and Smith started Country Meadows in 2007. Twenty lots were made available in the first phase of what was planned as a 120-lot development. Three homes were constructed before the real estate market faltered, two more have been built since.
Monday’s meeting of the HGC was the first for new board member Wade Bryant, appointed after Bill Slaughter chose not to serve another term.