Briana Pace | Southern Indiana Business Report
New affordable housing options are coming to Lawrence County in late 2027. Cook Group and their subsidiary, CFC properties, announced a new workforce housing initiative, bringing approximately 60 new houses priced between $250,000 and $350,000, to the area.
A variety of models will be available to choose from, but most will be one or two stories, with three or four bedrooms, a two-car garage, a nice yard and potentially a walk out basement. All appliances will be included as well.
“It’s become so difficult for people to afford a home. Yet, in our country, many people’s wealth is built by the equity of their house,” President of CFC Properties Ron Walker said, “and so we want to give them a chance to do that by getting into one of these homes.”
Through surveys and feedback, CFC properties, a Bloomington-based company, noticed a need for housing in Lawrence County, especially for Cook employees. Leadership in the area agreed.
“We feel we can make a bigger impact outside of Bloomington and Monroe County, which are already very active communities,” Walker said. “We feel we can have a bigger impact housing-wise and support, on all Lawrence County.”
Following the housing project in Spencer, CFC properties began looking for property in Lawrence County to start their next venture. Last winter, they purchased 85 acres on Springville Judah Road in Springville.
The homes, the first 10 of which are expected to be completed in late 2027 or early 2028, will most likely first be offered to Cook employees for a short period of time before opening to anyone working in Lawrence County.
“Our goal would be to increase the population. Therefore, support employers in the area, including ourselves, but others as well,” Walker said, “add to the tax base, strengthen the school system through enrollment and, hopefully, help spur on further development.”
For previous housing projects, potential buyers first had to visit an open house, then they were able to submit an application, which required pre-approval by a lender. In cases of multiple applicants, there was a drawing. Whoever was drawn had a certain period of time to close on the home.
The Lawrence County project will most likely use the same process.
Walker said within the next 90 days, they should be breaking ground on the project and estimates the entire project will take three-to-five years to finish.
“We hope it helps with recruiting employees and retaining employees; we think that’s of value,” Walker said, “but we’re really doing it because we think it’s the right thing.”