The Peru City Council approved the final plat of the previously agreed upon Pohar’s Crossing Subdivision. This subdivision will be constructed through a development agreement between the city and John Pohar and Son’s Inc.
The planned subdivision will be around 31 total acres and will be generally located north of Baker Lake in Peru.
“This is something this city of Peru desperately needs,” said Alderman Tom Payton. “Congratulations to Pohar and Sons for stepping up and doing this. We appreciate it.”
The subdivision will have a total of 57 plots of land that will be available for construction, as it was announced on Monday night 20 of the plots have already been pre-sold to interested parties.
“People will be building homes,” Pohar’s legal representative stated Monday. “Could be their first homes, spec homes, first new homes or retirement homes, but these 20 sales will happen in January or February.”
The amount of pre-sales that are already expected to go through in the coming months comes out to just more than $1 million.
Phohar’s legal representative also estimated, based on 2020′s tax bills, that this new subdivision will conservatively raise around a half million dollars a year for IVCC, local high and grade schools.
It will also contribute about $40,000 a year for the police and fire pensions and about $22,000 a year for the Peru library.
“This is going to be a great asset to the city,” said Mayor Ken Kolowski. “It’s a much needed development and we are really looking forward to it.”
The company worked closely with City Engineer Eric Carls who said the city was encouraged by the success Pohar has already seen with the Pointe Subdivision.
The Pointe Subdivision consists of 18 plots of land sold within the first six months. This area is located just south of the newly-constructed Peru Police Department.
“It’s been awesome,” Carls said. “It’s been a great partnership between the city and Pohar and Sons.”
Carls also stated this whole process moved fairly quickly as there was interest from both parties on reaching an agreement.
“We had a good conversation with (Pohar’s) and he was interested in doing another project and we knew that there was potential to develop this parcel,” Carls said. “They came back to us and put together a development agreement and we feel very strongly in growing the city strategically.”
Carls provided an update on the planned timeline of the project and mentioned the city would like to see the project initially break ground shortly after the first of the year. Carls said he would see plots available for home builders as early as the late fall of 2022.
Carls hopes to see the group begin to pave roads in the subdivision in the spring of 2022. The first occupants could then be expected to move into the subdivision in the spring of 2023.