Seven city-owned residential lots in a subdivision on the west side of Newton are being sold to a developer who has committed to building single-family homes. The city has owned and maintained the lots on the east side of the Fountain Hills Subdivision since 2018. The lots on the west side of the subdivision were previously sold and have single-family homes. Local developers and homebuilders TJ Schultz and Randy Hanson are paying $7,000 for all seven lots, and have committed to build seven new single-family homes that will meet the restrictive covenants for the subdivision. Hanson says the valuations of the houses they intend to build will start at $350,000.

“The price point is at $350,000 and up. With the square footage, that pretty much puts you at that $350,000 area. That would be where we would start.” 

Hanson says they plan to have the lots fully built out by the Spring of 2029. The partners have worked on commercial projects in Newton at McDonald’s, Gray Moon Public Market, and the Westwood Clubhouse.