MARENGO – A local construction company later this year plans to build homes and duplexes in Marengo, marking a renewal of residential construction seldom seen lately in the city.

Once it officially secures financing in May, Brackmann Construction will build the new homes on 122 lots in the Brookside Meadows subdivision, located on the southeastern end of Marengo.

It marks the first time Marengo has seen a home built in the past three years, when Brackmann Construction built a home and a couple of duplexes at the subdivision, said Corey Brackmann, who oversees sales at the family-owned company.

“It’s extremely good. It’s important for a community to grow,” Brackmann said. “It helps with property values. It’s creating jobs. It creates everything.”

The Marengo company opened the 230-unit subdivision in the mid-2000s but struggled to complete the housing project after the economic recession hit, Brackmann said.

The company will now turn 122 remaining lots at the subdivision primarily into single-family homes. Multifamily units – mostly duplexes and some triplexes – will be built on 23 of the lots, Brackmann said.

The duplexes and triplexes, totaling 39 units, were not a part of the company’s original annexation deal with city officials. But City Council last week amended the deal and rezoned a portion of the subdivision, allowing the multi-family units to be built.

More affordable than single-family homes, duplexes and triplexes are in high demand with adults 55 and older, who either have retired or approaching retirement, Brackmann said. The multi-family units will feature an association that takes care of outdoor maintenance of the properties, he said.

The company is expected to move forward with the project by mid-May, once it closes on a deal with a private investor from Arlington Heights. Brackmann Construction will build and market the new properties, as the investor finances the project, Brackmann said.

The two parties also have to make infrastructure upgrades within Brookside Meadows, as part of the negotiation with city officials. The subdivision will see additional street lighting, pavement and vegetation.

The total investment into Brookside Meadows is estimated around $1.6 million, Brackmann said.

“It’s a sizable investment, but we were able to get it done,” he said. “It was nice to see the city work with us and be able to salvage [Brookside Meadows].”