Fairfield developer Vastu Partners seeks grant for 35 housing units

FAIRFIELD — Developer Martin Brett of Vastu Partners LLC is applying for a federal grant which, if he receives it, could lead to the construction of 35 units in townhomes on the north side of Fairfield.

Brett has applied for a Brownfields Cleanup Grant for a parcel of land that includes Reiff Grain on North Highway 1. If the grant comes through, it would give Brett between $900,000 and $1 million to demolish all the buildings at Reiff Grain and begin construction on a new housing complex that would be called North Campus Ridge. The grant would cover the costs associated with removing the grain silos, tanks, and all machinery.

Though this new housing complex has a similar name to Brett’s other housing development nearby at North Campus Village, accessible from North B Street, the two housing developments would not be connected by a road, and could only be accessed from North Highway 1. Brett said the style of homes in North Campus Ridge would be similar to those he’s built in North Campus Village. His plan is to build triplexes with one five-plex, so he could fit 35 units into 11 buildings.

Vastu Partners LLC is in the final stages of finishing its most recent round of additions to North Campus Village, now in its sixth phase. North Campus Village now has 180 homes, and Brett said he’s finished adding homes to it. However, he said there is still such a pent-up demand for homes that he’s received deposits from 57 people who are eager to move into the next homes he builds. That’s what prompted him to look at this property on North Highway 1.

Brett said he should know in November whether he has received the Brownfields Cleanup Grant, and if he does, he plans to start work on the project immediately by pouring foundations in the fall and connecting the area to water and sewer lines. He expects that all 11 of the new buildings will be finished within 2.5 years.

Dave Reiff, owner of Reiff Grain, said he has briefed his customers that there is a chance the business will close later this year, but he’s still accepting grain from them.

“We’re going to be open to take grain like normal this fall,” Reiff said. “We’re not having a general sale.”

Reiff said that Vastu Partners LLC owns an option on Reiff Grain that the company can exercise if it chooses.

“I’ve granted them an option that says if they want it at my price, they can have it,” Reiff said.

Brett said that representatives of Maharishi International University, which borders the property, have expressed a desire to expand north. Tom Brooks, MIU’s vice president of operations, said the university has an interest in the Reiff Grain parcel for future development, but that it has no immediate plans for the land.

Brett said he’s very hopeful that he will receive this grant so that he can add to Fairfield’s housing stock. He said he appreciates the work of his business partner Doug Bachar of DRB Contracting, which has been building Vastu Partners’ homes in North Campus Village. He also appreciates all the help he’s received from Grow Fairfield Executive Director Joshua Laraby, who has helped him with state grants. He said that, after the initial round of construction at North Campus Village 20 years ago, construction came to a half after the financial crisis of 2007-2008. He said that it only came back in 2014 thanks to initiatives like Workforce Housing Tax Credits and Tax Increment Financing.

“That’s what allowed us to price houses in the $127,000 range, and we were closing on two or three houses per week,” Brett said.

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Call Andy Hallman at 641-575-0135 or email him at andy.hallman@southeastiowaunion.com

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