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Sonntag: Third condo option to cost $229K

Atlantic private developer Don Sonntag gives city officials the cost for a 1,459-square-foot condominium on a slab

Published: Wednesday, April 2, 2014 12:40 p.m. CDT • Updated: Wednesday, April 2, 2014 1:30 p.m. CDT

A bus tour last month revealed that Crestonians interested in a condominium in the Cottonwood Subdivision weren’t sold on either of the two pricing options presented by Atlantic private developer Don Sonntag.

So, they requested Sonntag provide a third pricing option. That request included a 1,459-square-foot condominium on a slab with two bedrooms, two baths and two-car garage in the neighborhood of $190,000 to $200,000.

Sonntag recently “ran the numbers” and told the city council Tuesday the price for the option requested would be $229,950.

“The reason there is only about $30,000 savings (between second and the new third option) is that when you remove a basement, the only cost savings is in the basement walls and floor joists. You still have a floor slab to pour,” said Dave Sturm, engineer with Snyder & Associates, helping on this project.

Sonntag said Sturm has found eight to nine locations in the Cottonwood Subdivision whereby this third option could be built.

The other options were:

• First option: A 1,229-square-foot condominium on a slab with two bedrooms, two baths, large one-car garage with an estimated cost of $149,950. Sonntag said a second garage can be added to this floor plan for about $12,000.

• Second option: A 1,459-square-foot condo with two bedrooms, two baths, double car garage and (unfinished) walkout basement. Estimated cost for that floor plan is $259,950.

If you are interested in purchasing a condominium or want additional information, contact Mike Taylor, city administrator, at 641-782-2000 ext. 4.

Story background

• In January, Sonntag — who has built more than 175 condominium units in the Atlantic area — made a presentation to Creston City Council proposing to build at least 14 condominium units in the Cottonwood Subdivision.

• In February, Tionna Reed Pooler — financial advisor for the city — outlined the financial risks involved with the project being proposed by Sonntag. Her analysis estimated the cost involved with this project could increase taxes for each Creston household anywhere from zero to $50 annually for a period of at least 10 years — depending fully on the project’s success.

• In March, about 20 Crestonians — city council members, local real estate agents and interested Creston citizens — went on a two and a-half hour bus tour all across Atlantic to view condos built by Sonntag. That day, many on the tour asked Sonntag if he could provide a third pricing option for a 1,459-square-foot condominium on slab that includes two bedrooms, two baths, double car garage in the neighborhood of $190,000 to $200,000.

• In April, Sonntag came back with a number of $229,950 for the third pricing option.

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