Recap from the County Supervisors Meeting

Terry Lutz, Chairman of McClure, presented the project information at Monday’s Poweshiek County Supervisors meeting. Over 70 people attended the meeting to learn more about the project and ask questions. A lot of information was shared with attendees, most of which is viewable at sapphirelakeiowa.com. No action was requested from the Supervisors. The project development team continues to listen to feedback being shared and is currently refining the local investment options. The Des Moines Register published an article quoting several local officials and project team members that is a good reference and can be found here.

Q&A with the Project Team*

Is the map that’s been shared on the website and in presentations a final depiction of the lake location?

At this point, all renderings, graphics, financial projections, and maps are subject to change. The current map was created as a requirement of the state grant application, but is not a final version. Fully engineered drawings, including specific housing lots, amenities and roads, will be finalized later this year, assuming the project moves forward.

Will there be performance requirements for the developer(s)?

Yes! If the project moves forward, a development agreement will be articulated and executed to ensure the project’s long term success and will include checkpoints throughout.

What is the plan for housing?  When can I buy a lot?

Single family, multi-family, apartments, and condos have all been identified as potential housing options to be built at Sapphire. These options are subject to change based on demand. At this time, the team has not completed engineering drawings for lots and therefore, lot pricing has not been established.

How did McClure get involved in this project?

McClure is a local civil engineering firm by trade and is doing work with the City of Grinnell. Their entrepreneurial culture has led them to delve into projects in other communities in which they work, and they have a track record of helping communities above and beyond their civil engineering work. Projects in other communities have aided in economic development and placemaking initiatives.

What percentage of new homes will be year-round residents versus seasonal residents?

The financial modeling and economic impact analysis identifies 20% full-time residents and 80% seasonal. In conversations more recently with individuals who live at Holiday Lake and Lake Ponderosa, they believe this split to be closer to 50/50. We anticipate that Sapphire could fall closer to the 50/50 range as well, based on how other lakefront developments are currently trending.

*These are some of the specific questions that were asked and addressed during Monday’s Supervisor meeting.