New housing construction coming to Broken Bow

Deb McCaslin, CEDC Executive Director

Custer Campus, Inc. a 501c2 non-profit organization under the Custer Economic Development Corporation (CEDC) 501c3 umbrella, closed on land last week to build new homes in Broken Bow.

“This is a big deal for our area on so many fronts. Through a pilot program initiated by NIFA (Nebraska Investment Finance Authority), Broken Bow aims to build up to 10 new homes and a duplex. The uniqueness of the program is its cornerstone, the local partners who on multiple levels have joined forces to make this happen,” CEDC Executive Director Deb McCaslin said. “I’m so proud of all of the work these fine folks put into the project. Without the commitment of the city of Broken Bow, local contractors, local suppliers, and especially our local bankers, this couldn’t happen.”

In addition to the local contractors, the homes will be constructed using locally purchased building supplies, appliances, flooring and cabinetry. Dollars spent to build and eventually purchase the homes will stay at home. Bruning State Bank, Custer Federal State Bank and Nebraska State Bank & Trust Co. worked together to finance the project.

“The three local banks are proud to be a partner in this project and invest back in the community,” Stuart Fox, President of Nebraska State Bank & Trust Co., said.

Local commitment continues with Mo Hunsberger of Ideal Realty volunteering to help sell and show the houses at no commission. “This is a great opportunity for Broken Bow residents to have new construction at a reasonable price. Many of their businesses are giving of time and talent with no financial benefit to them or their company, and I wanted to be one of those businesses in our community,” Hunsberger said of her offer.

The NIFA Workforce Housing Pilot Project is just what it says. As a pilot program, projected outcomes changed as the entities worked together to see what was needed. Three communities were selected following the initial application process and Broken Bow was fortunate to be one of those communities. The NIFA Workforce Housing Project is the catalyst behind the project. Construction starts with three houses, and intends to add additional houses as homes are sold.

“Affordable housing is needed in our community and these 3 new homes will help,” Jim Scott, Bruning State Bank Broken Bow Branch Vice President and lead banker for the project, said.