Oberer, a semi-custom home builder based in Miamisburg, plans to annex about 34 of those acres into Yellow Springs, which would also allow more opportunities to buy a home in Yellow Springs.
“We have a very low supply of houses, and we don’t have a whole lot of turnover,” said village manager Josué Salmerón. “And when you look at the economic data, our homes are a little older and more expensive.”
The Greene County commissioners approved the annexation petition about two weeks ago. Council expects to hear the petition in early July and it is expected to become effective in August.
The company cannot begin the zoning process for the land until the petition is approved by the village, so limited information is currently available about what exactly would be built at the site.
Public plans indicate about 50 duplexes and 88 single-family homes would be available at the development.
Oberer says it is anticipating having a wide price range at these homes.
“We are working on bringing a variety of existing and new product types to Yellow Springs that will be offered at a wide price range,” George Oberer, Jr., president of Oberer Companies, said in a press release. “We look forward to working with the Village on those products as the approval process continues.”
Salmerón said the village now goes into a 60-day waiting period for the council and the village before formally passing an ordinance to annex the property.
The annexation is scheduled for its first reading at council on June 21 and the second reading will be July 7. If passed, it becomes effective 30 days after that.
After that, Yellow Springs and Oberer will begin the planning and zoning process, Salmerón said.
The company expects to have homes for sale in the area beginning in spring 2022, according to a press release.
Jordan Laird contributed.
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