|New apartment building going up|
|Written by Chris Lee|
As is the case with many small communities around the area, Holyoke has a tough time offering rental properties.
As a member of Phillips County Economic Development board, Tom Bennett said they receive calls each week inquiring about rental property in Holyoke.
“It’s a need in the community,” Bennett said.
With the recent announcement of Seaboard Foods building a new mill, Bennett said they have seen numerous calls from those who will be working in the area for a little over a year. He said it’s tough to tell them they may have to hook a camper up at Phillips County Fairgrounds. Bennett did say that would be better than driving them toward neighboring communities.
Driving south out of town, people may notice some construction to the west of Highway 385. The current eight-plex owned by Bennett on the south end of town is in the process of seeing a similar building going up just to the south of it.
Construction began March 20 on a new apartment building which will help Holyoke offer some more rental housing.
This new building is going up on the south end of town and will house eight brand new apartments. Owner Tom Bennett is a big believer of rental properties and hopes the new building will be a step in the right direction to offer more rental housing in Holyoke. —Enterprise photo
Alan Goldenstein is serving as the contractor for the unit which will have eight two-bedroom apartments.
Bennett, who has owned rental properties for as long as he can remember, really believes in them. He noted there are jobs in the community that attract people but they might not always be permanent.
With mortgage requirements, it doesn’t always make sense to purchase a home right away as the job may not be exactly what was desired. Renting allows people to figure out exactly what they want before making a big decision about housing.
Bennett knows one complex isn’t going to fix the rental situation, but hopes it helps fill a void. He is in the process of purchasing a few more lots nearby that will allow for another building to be built in the future, but no plans are in the works just yet. The new complex is expected to be completed mid to late fall of this year.
“We’re excited about it,” Bennett said.
Holyoke Enterprise May 17, 2012