Nibley says no to developers’ request to change 55+ age requirement
February 19th, 2011 Posted in OpinionNIBLEY — The developers of The Cottages planned unit development in Nibley have asked the City Council that the age restriction of 55 and older be removed. The basis for their request is that there is almost no demand for this type of housing.
“Seniors aren’t buying right now because they don’t have enough equity to sell their existing home and then buy a new house,” Jay Harrison, a local housing developer said. “The Federal Government developed a regulation that allows developers to only sell to those over 55 years of age.
“The Cottages planned unit development was approved for 55 and older and at this time we asked the council to let us sell to buyers of all ages. But they didn’t agree.”
In the meeting there were not enough votes to change the regulations for the property. The land will continue to wait until there is a buyer.
“It is a dilemma” Councilman Larry Jacobsen said. “It was a good idea but just hasn’t taken off.”
Now that the proposal has been denied there isn’t much that can be done. “At this point we don’t a have any other options than to just wait, Harrison said.
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Tags: 55+, age requirement, Nibley, The Cottages
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