By Starrla Cray
WINSTED, MN Winsted is slated to get two new houses by the end of the year.
Brenton Hayden, who graduated from Holy Trinity High School in 2003 and founded Renters Warehouse, plans to construct two single-family homes in phase 1 of the Grass Lake Farms development on the south side of town.
“They’ll be at 725 and 735 Mallard Avenue,” Hayden said.
He noted that the City of Winsted has been supportive in his venture to spur growth, helping to make building economically viable. At the end of July, the city began accepting applications for a housing incentive program that waives building permits up to $2,000 per home (maximum of five in 2016, for a total of $10,000). Construction for eligible homes must start by the end of the year.
Also part of the program is the delay of sewer and water connection fee payments.
“The only way to grow is to have activity,” Hayden said, adding that he hopes other builders will take advantage of the program, as well.
“The City of Winsted welcomes the new housing development and is always eager to work with developers to grow and improve the Winsted community,” City Administrator Dan Tienter noted.
Hayden said the two new homes on Mallard Avenue will each be priced at $219,000, and will have three bedrooms, two bathrooms, and three-car garages. One will be a split entry, while the other will be a rambler.
If all goes well, Hayden said he would like to build more homes in Grass Lake Farms, in phase 2 of the development.
The area has the potential for 37 lots, but Hayden said he would likely aim for fewer houses, so residents can have a larger yard and a nicer view. Hayden added that the pond south of Mallard Avenue would remain in place.
In the past 10 years, seven new homes have been constructed in Winsted, according to city building permit records.
The City of Winsted conducted an in-depth housing study in 2015, which found that the aging baby-boom population has created more demand for moderate to higher-priced homes, with less demand for entry-level homes.
In keeping with this need, Hayden’s new homes would likely be “senior friendly,” with single-level living to help retain and attract older people to the community. Hayden noted that the homes could include granite countertops, hardwood floors, and other high-quality features.
“I’m not settled on that plan yet,” he said. “It’s still one to two years down the road, and it would need roads and city water and sewer.”
For a link to Winsted’s draft 2015 housing study, CLICK HERE.
Hayden is the founder and chairman emeritus at Renters Warehouse, and also the founder of Suits, LLC, a real estate investment company that buys property in rural emerging towns. He also serves as the founder and CEO/CFO of a boutique private equity company called Red Ocean Consulting out of South Florida where he invests in small businesses.