Elk Grove Hoping Housing Market Is Ready To Rebound
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ELK GROVE (CBS13) — Housing hope is returning to Elk Grove with a new housing development up for approval in the coming week.
The flags are flying high at new housing developments in Elk Grove.
“Farms and fields are turning into houses. Yeah, it’s starting to grow again.”
Once rated the fastest growing city in the country, Elk Grove’s housing surge came to a screeching halt.
No sign of the slowdown was better than a picture of the city’s next mall, stopped in mid-construction and standing that way for five years.
Elk Grove’s housing boom led to a whopping 4,000 new home permits in 2004, a number that shrank to just 200 in 2009.
That number is expected to reach nearly 500 this year.
The City Planning Department will be asked to approve plans for the Sun Grove development. It’s now a 19-acre field on Whitelock Parkway and Big Horn Boulevard that could become 86 homes.
Mike Yount has lived in Elk Grove all his life. He’s seen the booms and busts, and just moved into a new home itself.
“It was moving pretty slowly, and then it sped up, and as you can see, there’s only a couple of lots here.”
City staff are recommending the commission approve the new project.