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New Construction on Norfolk Avenue

  "The selection of Pyramid Construction on February 22, 1997, concluded an intense outreach to the development community. The outreach was designed to acquaint area developers with the wonderful opportunities to create new home ownership here in Forest Park Southeast," says Suzanne Goodman, Program Manager, WUMC Community Revitalization Program. "We took the time to reach out to a broad cross section of experienced developers and construction experts. They understand the low and moderate-income market and are able to provide the type of product and amenities that are desirable. "

  Craig Heller, President of Pyramid Construction, says: "we were pleased to be recruited and asked to submit a proposal for development in Forest Park Southeast. We are doubly appreciative of the opportunity to be a part of a neighborhood where so much concentrated effort is being focused by residents and professionals working together."

  According to Goodman, eight excellent submissions were received for the first development project on the 4200 block of Norfolk Avenue. Selection was based on cost, design, and compatibility with existing buildings on the block and the marketing plan. Plans are now being refined and costs are being firmed up for the construction of three new homes.

  Each of the three "historic replica" federal-style homes feature brick facades and have three bedrooms and one and a half baths. An appealing design feature is the presence of a large walk-in closet adjacent to the master bedroom. According to Heller, "The space will contain rough in for plumbing in the event the homeowner elects to convert it into another full bathroom at a relatively low cost."

  Each home will come complete with garage, privacy fencing and tasteful landscaping. The façade will feature decorative cornice work typical of the federal style it is replicating. A long list of amenities is included, featuring a security system, dishwasher and disposal, central air conditioning and a 90 percent efficient gas furnace. Sale price for the low to moderate income purchaser will be approximately $67,000.

  Pyramid Construction is proud of its in-house marketing efforts. Company principal John Steffan expects that the units will be pre-sold, either through Pyramid's existing list of potential homeowners, or through normal advertising.

  "By working closely with clients and helping though what can be an intimidation loan-qualifying experience, we have been able to successfully match qualified home buyers with a product that frequently exceeds their expectations," says Steffan.

  Goodman anticipates that these homes will also be marketed to existing renters in the FPSE neighborhood. In addition to Community Development Block Grant assistance to help "write down the relatively high cost of construction, point and closing cost assistance will be available to purchasers of the new homes.