A California-based contractor and real estate developer has obtained building permits for 20 duplex structures valued at $124,800 each in north Coeur d’Alene.
Including additional valuations for three storage structures that will be part of the residential project, the total permit value for the development named Monte Vista Villas is $2.6 million.
The development site is a 3.6-acre parcel of land at the northeast corner of Best Avenue and 15th Street.
The project owner, Andrew Otero, has formed Monte Vista Villas LLC to develop the project, and A&D GC Inc., Otero’s Santee, Calif.-based construction company, is the contractor on it, says Monte Meltebarger, project manager.
ML Architect & Associates Inc., of Post Falls, designed the development.
Monte Vista Villas will include 40 residential units and will be targeted toward tenants aged 55 and older, Meltebarger says.
The duplexes will be completed next spring, he says, adding that individual units will have roughly 800 square feet of living space, and each likely will rent for $750 to $800 a month.
Although Monte Vista Villas isn’t considered a low-income housing development, the developer’s goal is to provide units that are affordable to seniors who rely on Social Security income, Meltebarger says.
Meltebarger, who owns Flagship Property Management LLC, of Post Falls, says he’ll be the leasing agent and property manager for Monte Vista Villas.
The project will be developed with pods of three to five duplex structures, and each pod will be configured with a central grassy and garden area.
The single-story units will be designed with with no steps in the entryway, and the main doors will comply with Americans with Disabilities Act standards. The home designs include hallways wide enough to accommodate residents who use walkers, he says.
Otero has been involved in North Idaho real estate developments for a number of years, Meltebarger says. He developed the 48-unit Riverwalk and 88-unit Promenade condominium complexes, both in Post Falls. He also owns Northside Manor, a 23-unit retirement community, in Coeur d’Alene.
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