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Developer plans new housing complex

T-R photo by Thomas Nelson his site for the new development is being rezoned by the city for housing. The future development will provide 16 residences.

A Cedar Falls developer is planning a new housing complex in Marshalltown.

The developer, Mike Hayworth, president of Rosemont Companies LLC, is planning to locate the complex on East Southridge Road. The Marshalltown Planning and Zoning Commission Approved rezoning the area at a public meeting last week.

“Marshalltown is a vibrant community with a lot of opportunity. We see big potential growth on the horizon,” Hayworth said. “There are high quality jobs at local employers and when you combine that with the central proximity to Iowa’s major metropolitan areas you have the ability to attract a large population. A population that requires more housing.”

Industries in Marshalltown have brought in more people and with them a need for more housing.

The Marshalltown Chamber of Commerce and city have worked together on housing studies through the last decade, as there is a need for more housing.

Jessica Kinser, city administrator, and Lynn Olberding, the Chamber of Commerce CEO, have sited a need for more housing in Marshalltown.

The rezoning effort will move on the Marshalltown City Council at the next meeting on Sept. 28. The city has already accepted an offer from the developer.

“This development will be all single family homes with a target list price of under $250,000,” Hayworth said.

The complex will most likely be made up of approximately 16 single family lots.

He estimates the total cost of the development will be around $4 million after the construction is finished.

The rezoning will change the lots’ designations from vacant to residential use.

Hayworth has not had difficulties putting the project together while working with the city.

“City staff, CGA and the realtors at Five Star have been great to work with,” he said. “They helped us modify our model to something that would be successful on this site. It’s just like a puzzle, together as a team we keep moving the pieces until it all comes together.”

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Contact Thomas Nelson at 641-753-6611

or tnelson@timesrepublican.com

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