Harrison Housing Update: Major Projects Planned

“The building is slowing down. We’ve always known that and this is identified through the permitting process within the Harrison City Limits." - Bob Largent

Harrison Regional Chamber of Commerce President, Bob Largent, gave an update to the Harrison City Council on economic development for the first quarter of 2022 and housing was a major focus.

In Largent’s presentation he noted that in 2021 there were 13 new homes built in Harrison that resulted in more than $2.8 million of construction, while in 2022 there has not been any new home permits granted as of March 31. He also said that in 2021 there were 15 homes remodeled for a total investment of $384,000 while in the first quarter of 2022 there have been six remodels for a total of $53,000.

“The building is slowing down. We’ve always known that and this is identified through the permitting process within the Harrison City Limits,” Largent said.

He and the chamber have been working for more that two and a half years on solving the housing shortage problem. He listed five housing developments in Boone County that will help to relieve some of the strain but said it won’t be enough.

1. Some 60 acres on Gibson Road is going to be developed this summer with the infrastructure to support several duplexes and fourplexes as well as lots for single family homes. Largent said these structures will be high end housing, totaling about 150 dwellings on the 100 lots that go along with the project. Mayor Jackson added that this is the first major home development in Harrison in 15 years.
2. Additions are being made to the 55 and over community of duplexes on Cottonwood Road which will add an additional 12 duplexes or 24 homes. Foundations have been poured and framing has started on the first couple of duplexes and the first may be available for an occupant by September.
3. Some 4,000 acres on Round Mountain is being developed for 125 single family homes with more than 30 of the lots having already been sold. This project is known as the Iron Bluffs Development. Construction on the first of those houses can begin as soon as a well is dug which has been hindered by the weather.
4. A contractor in Diamond City has 17 single family homes under development, the first of which to become available should surface in August or September. Largent said this same contractor also has plans to construct affordable apartments in Diamond City as well, which would be two-to-three-bedroom apartments for less than $1000 per month.
5. The final project Largent spoke of is a new development that is coming at the corner of Gibson Road and Rock Creek Road which will feature 150 to 200 affordable apartments that could come in two to three level structures. The acreage for the property is already under contract and is being done by an established contractor that has undertaken projects like this in other places around the mid-west.  The fastest timeline for infrastructure construction to begin is this fall with the first apartment becoming available to rent by the middle of 2023.

This will come as welcome relief to the Harrison housing market which in 2021 had an average listing price of $225,504 for a single family home, whereas the average list price in 2022 has jumped to $285,702. The average sale price of a house in 2021 was $175,550 while in 2022 it has climbed to $204,873. All-in-all the real-estate market in Harrison has 139 homes on the market. Realtors say that is several hundred short of being considered a healthy market for homebuyers.