HANCOCK COUNTY Developer auctioning lots

A Greenfield residential and commercial developer has come up with a creative way to deal with the housing slowdown: auction its undeveloped lots.

R&F Development on Jan. 26 will auction five lots in four of its subdivisions, at reserve prices ranging from $15,000 to $20,000. Some of the lots fetched $60,000 during the now-faded housing boom of recent years.

“We hope to sell to builders, people who are ready to build, people who are interested in building in the future and want a good buy, and possibly investors who may want to resell when the market rebounds,” the builder states on its Web site, rfdevelopment.com.

Homes built on the lots are subject to the usual covenants and restrictions of their neighborhoods: The Overlook, Windhaven and Meadow Lake Village. R&F is active in home building in Sugar Creek Township in western Hancock County.

The Jan. 26 auction starts at 11 a.m. at Washington Village Apartments, 4211 W. U.S. 40 in Greenfield. Bidders may register on auction day or in advance at R&F’s offices, 1111 W. Main St. in Greenfield.

Want more land? Noblesville-based Best & Holloway Holdings is trying to sell 56 acres on the northwest corner of Mount Comfort Road and U.S. 40 where Columbus, Ohio-based M/I Homes had planned to develop a subdivision.

The site has 40 acres zoned for singlefamily homes and 16 acres for multi-family.

Meanwhile, Indianapolis-based real estate firm Paragon Companies still is trying to sell several acres just south of the M/I property, along U.S. 40, for retail development.

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