District Plans to Sell TJ Property to Applestone Homes, Inc.

District Plans to Sell TJ Property to Applestone Homes, Inc.

Apr 26, 2019

At the May 6 Bettendorf Board of Education meeting, directors will vote on the approval of the sale of the Thomas Jefferson Elementary School property to Applestone Homes Inc. Applestone Homes plans to build 20-28 single family residential homes. The freestanding custom homes, priced at around $300,000, would be built on lot sizes similar to the existing neighborhood.

Applestone Homes Inc., based in the Quad Cities, has been building custom homes for more than 10 years. Applestone’s president, JJ Condon, is a third generation real estate professional in the Quad Cities, with family experience in land development, new construction homes and real estate sales. He is also a 2000 graduate of Bettendorf High School.

“We are excited about the opportunity to develop the Thomas Jefferson Elementary site into new homes in the Bettendorf Community School District,” said Superintendent Mike Raso. “JJ Condon is a Bettendorf graduate and knows the community. His homes are beautiful and will be a great asset to the Thomas Jefferson neighborhood and our school district.”

“We have built a reputation partnering with our clients to build some of the most fun, personalized, artistic homes in the Quad Cities,” said JJ Condon, President of Applestone Homes, Inc. “Our project is likely to attract young families with children. We believe this would be the highest and best use of the Thomas Jefferson site, and the most complimentary option of the neighborhood.”

The closing for possession of the property will take place after the completion of the new Mark Twain Elementary School.

The district will be selling the property for $100,000. The district will then provide a rebate of $10,000 for each of the first homes completed on the Thomas Jefferson Elementary parcel up to $100,000.

At the Monday, May 6, Bettendorf school board meeting, there will be a public hearing regarding the sale of the Thomas Jefferson Elementary property at 610 Holmes St. The public hearing allows the community an opportunity to speak about the sale of the property.

Category: District News