The developer for the project is DDC Management; Ryan Homes is in charge of the construction.
Franzen said that work on the third phase is slated to start soon after the ordinance is approved.
Homes are built once they are purchased by homebuyers. Model homes were the first to be constructed at the development, which saw site work begin in 2019 and home sales began in early 2020.
As of March, 81 homes have been sold in the development, according to Franzen.
The bulk of the homes in the development will be located just south of the Tuttle Road Walmart along with an additional 15-acre tract to the east of the Walmart.
Franzen said that there has been a high demand for those homes and the average sales price so far is $240,000. He said the development ties into larger efforts aimed at adding more housing options in the city.
Prior to the start of construction at Bridgewater, there had not been a significant housing development built in Springfield since the early 1990s.
“We have a need for all types of housing. It is important that we have those housing options in town,” Franzen said as new housing can keep residents from leaving the city as well as be used to attract new people.
The development is not the only project underway in the city to add more housing opportunities.
So far, 10 townhomes have been constructed in downtown Springfield as part of a planned 34-unit, 6-building development.
The project, Center Street Townes, is being developed by Charles Simms Development, which started selling units last year. Another six units are slated to be completed later this summer, Franzen said.
In addition to that, city commissioners approved late last year a development plan to allow construction of 94 high-end apartments in the northeast part of the city.
Those units, being developed by Redwood Apartment Neighborhoods, will be located on a 15.4 acre piece of land that has an address of 3641 Middle Urbana Road and the project is slated to begin sometime this year.
Facts & Figures:
59: Number of homes expected to be built during the third phase of Bridgewater development
231: Total number of homes planned for Bridgewater
$240,000: Average sales price of homes