Empty D&D lots purchased and cleaned up by city sold to home builder

D&D properties acquired by the city between 2018 and 2024 have been sold to a home builder who is committed to constructing five new homes on the empty lots.

The five properties sold include the lots at: 214 E. Fourth St. N., 411 N. Third Ave. E., 421 N. Third Ave. E., 427 N. Third Ave. E. and 215 E. Fifth St. N.

In 2018, the city began purchasing properties in the north half of the block at East Fourth Street North, North Third Avenue East and East Fifth Street North for the D&D program. All of the lots have since been cleared and are ready for redevelopment. The city held a public hearing for the sale on Nov. 17.

Young Buck Construction, LLC was the only entity that submitted an offer to the city. The bid came in at $5,000 for all five lots, which are to be redeveloped into five new single-family homes. Three of the five lots will close by the end of November and begin construction right away. The others will close early 2026.

According to city documents, the builder will utilize a plan similar to the home recently constructed at 416 E. Fourth St. S., which has a building value of $271,260 per the Jasper County Assessor’s Office. The developer has indicated a desire to alter the plans and provide variation to the exterior appearance.

The city acknowledged the offered price of $1,000 per lot is less than the assessed land value of the properties, it is consistent with other city-owned lot sales to builders like Jeffrey Paul Homes, LLC and VL Construction. Young Buck Construction has also built a number of homes in Newton.

Council member Randy Ervin said the city has often been criticized for selling lots for less money than it cost to demolish the houses. However, Ervin reasoned the end result is five new homes that are likely going to be built at a price range than many people and families can afford.

“That will increase the tax base, and I think that’s important (information) that people need to know,” Ervin said. “Hats off to Young Buck, a local company that wants to make a difference.”