New Habitat for Humanity constructions raise home appraisal concerns
WENTZVILLE, Mo. – This summer, the Habitat for Humanity of St. Charles County will break ground on its latest project in Wentzville.
The Haven Pointe subdivision, just off of N. Pointe Prairie Road, will consist of 46 homes.
While the $8 million project has received major backing from a few Wentzville aldermen, not everyone is on board.
In a Wednesday night City Council meeting, Alderman Jordan Broviak, who represents the ward where the subdivision is being built, said many residents have expressed concern about home values going down.
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“There’s concern,” Broviak said. “They are just now moving in and the values in that subdivision are from $300,000 to $500,000.”
Michelle Woods, the executive director for Habitat for Humanity of St. Charles, said home values will not decrease because of the subdivision.
“That could happen if we sold the homes at a super low price, but we don’t,” Woods told the city council.
“We respect (home values) and we sell (homes) at market rate,” Woods explained.
Homes will sell for around $300,000 with a 0% interest mortgage rate when financed through Habitat for Humanity.
Other aldermen and the Wentzville mayor expressed support for the project.
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