Highlands Residential Services will take construction bids for Redbud Village in March.
Red Bud Village will include some 20 units, set to help with the local homeless issue. Executive Director Dow Harris told the Board Monday they are reaching out to several local contractors to keep them aware of when the project will be up for bids.
“We are just trying to market and get more than one bid,” Harris said. “We have asked for another updated cost estimate for Redbud Village because it’s been a year since we have looked at that cost. They are working on that. We are scheduled to talk with them again next week.”
Harris said after the architects debated on the length of the contract, the project will be bid out as a 12-month contract. Harris said grants are in place and if everything goes to plan the project could break ground in early April.
“I don’t think it takes a year to build 20 units and two buildings but they were really adamant about maybe getting a smaller contractor and a better price by giving them a year instead of nine months,” Harris said. “I said well that’s okay but if we start in April, by April of 2026 at the latest we should be ready to start occupancy.”
The board also approved filing a quit claim deed on a portion of the Eagle Landing Property for Redbud Village. Harris said a sub-entity of Highlands Residential called Walnut Village Inc. owns the property and the board is having to file a quit claim deed to meet grant requirements for the Redbud Village project.
“Those require us to restrict that land under a restrictive covenant under certain rules,” Harris said. “You know, that’s typical of all of our developments so we wanted to carve that parcel out based on our development plans for Redbud Village.”
Harris said the portion of the property is estimated to be less than two acres. Harris said only filing for a portion of the property will protect the remainder of the property for the future development of Magnolia Ridge as it would be separated from the restrictions. Harris said he looks forward to getting the project underway as it has been three to four years in the making. Redbud Village is a housing project that is planned to be constructed on Buffalo Valley Road in Cookeville.
In other business, the board approved a resolution to update utility allowances and gross rent changes for Walnut Village. The board updated to the 2024 Operating Costs Adjustment Factor rates. Harris said the board was behind and approved the resolution backdated to January 1st, 2024. Harris said the resolution would allow the board to collect the financial differences of 2024 from the Department of Housing and Urban Development.
