PROJECT TOUR | Diamond Ridge

Diamond Ridge is an off shoot of our Shepherd Hills property. It’s on the far south side of the larger, 600 acre parcel. If you can kind of look up to the north, you can even see some of Shepherd Hills development off in the distance there.

This is the south side, we’re just off of Homestead Street. We’ve got North Valley Drive just to the west of us here.

Our Diamond Ridge Subdivision is essentially an extension of the Johnson Ranch concept, where we felt that it was necessary for us to continue to provide that workforce, entry level housing. That first-time homebuyer’s level, keep it under the $250,000 range.

Right now, we’ve got homes in this subdivision selling from about $170,000 to about $230,000 and they’re selling as fast as we can build them.

Literally, as soon as we plat lots, they are sold, with the house, and they’re on the waiting list for the buyer to get into them.

That’s the demand that we have for that level of housing inside of Rapid City.

This development is built in a very unique area. We’re right on the boundary line between Rapid City services and Rapid Valley Sanitary District Services. So, a street like the one that we’re building in front of us, we’re actually running, in certain places, 2 sewer lines and up to 3 different water lines for all of the different utilities.

So, you start looking at the cost of the underground infrastructure that goes into a street, it is at a break even point or even a loss point for us to create these lots.

However, we made a commitment to continue these lots, we made a commitment to the builders that are buying these lots to continue developing them, and most importantly, it’s what Rapid City needs. This is fulfilling a hole that can’t be filled anywhere else. And, so, we’ve made that commitment and we continue to do it and make it work.

Like I said, the utility situation is unique where we’re at right now, this is full Rapid City services. Just across the line here, we’ve got Rapid Valley Sanitary District services, and we even had to put in a special booster station to create our own pressure system within Rapid Valley Sanitary District, which is where we get all of the redundant lines and the extra sewer lines.

But, most importantly, there again, we wanted to make sure that everybody had excellent water and sewer service, so that you have that shower pressure you’re looking for. You’ve got, just like you would expect, the water to make your grass look great and green.

We’ve already completed with the first 2 phases, we are up to almost 50 homes down below. We just finished up here, this last couple days with our phase 3 portion, which is another single family lots and we’re working on our phase 4 portion which is another 32 lots. All of the lots are sold.

And, so right now, it’s us just keeping ahead of the builders to make sure that we’re providing them, the homes are pre-sold so everything’s on a schedule – boom, boom, boom – and that’s what’s keeping these people working.

So, we’ve got our construction crews, we’ve probably got 50 subcontractors just on the downside of this hill building homes. They’re digging foundations, they’re pouring the concrete, they’re setting the floors, they’re framing the houses, they’re finishing the houses, they’re roofing the houses, and they’re siding. All of those crews are working in unison and building in bulk to make these prices attainable within Rapid City.

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