Rezoning could mean 200 new Moraine homes

City approves plan for 65 acres; close to Ryan Homes deal.

— The effort to MORAINE bring more than 200 new homes to Moraine is moving forward.

The rezoning of about 65 acres near the Great Miami River has been approved by the city’s council. It voted Thursday night to change the zoning of vacant land the city owns west of Vance Road to single-family residential from multi-family and light industrial.

Moraine City Manager David Hicks has said a deal is near with Ryan Homes to build about 215 homes on 110 acres over seven years. Here are four things to know about the city’s plan:

■ The city has established the Vance Darroch New Community Authority to oversee the development. The authority, consisting of four council members, will shield the city from liability and establish taxes to which future homeowners will agree to finance the project, city officials said.

■ The estimated $45 million investment would include sewers, water lines, streets, sidewalks, park/open space, street lighting and recreational facilities, records show.

Housing investment is expected to be about $39 million, while $6 million is projected for infrastructure, Hicks said.

■ A 100-home Pinnacle Ridge subdivision, which will include undeveloped land and large tracts of green space, is proposed for the 65 acres rezoned this week, Hicks said.

The remaining homes are projected on the remaining 45 acres land across Vance Road.

■ The homes would range in price from $180,000 to $220,000, according to the city. They would boost Moraine’s current housing of about 1,900 units by more than 10 percent.