Local developers are building and offering incentives

Report by Joe Stoll - email
Posted by LS

WEST TOLEDO (WTOL) - The harsh economy is not stopping a Toledo developer from building more homes.

They say it's about location, location, location.

Seneca Building Company here in Toledo believes they've found a key spot. With 15 people already interested, the developers hope the project takes off.

Right now, it's just a muddy mess, but soon the land will be a place for people to call home. Crews are expected to break ground on the Gray Stone Woods subdvision next week.

The big incentive is a 15-year tax abatement, meaning you wouldn't pay taxes on the house for 15 years.

"We're actually trying to get people out of apartments. For under $900 a month, you could be in your own home with your own yard, a two car garage, and custom build it the way you want it," said Ron Hensley with Seneca Building Company.

The developers are not fearful of the struggling economy. "There's definitely a market for entry-level buyers and retired people who want to be in a home in this price range," said Hensley.

Prices for these new homes range from $140-170,000.

More information

Seneca Building Company (419) 467-2562

ReMax - Shad Ortman (419) 350-2196