Bluegrass Development LLC, of Coeur dAlene, is set to begin installing utilities for a planned 148-lot single-family home development southwest of the intersection of Spokane Street and Prairie Avenue in Post Falls.


John Magnuson, who owns Bluegrass with Tom Anderl, says the company likely will start putting in roads, electricity, sewer, and water any day, and that the lots should be ready for builders by next spring.


The 44-acre subdivision, which was annexed into the city in July, was approved in August, says Jerry Basler, an urban planner with the city of Post Falls.


Bluegrass Development will sell lots in the development to several different homebuilders, and anticipates that the homes they will build will be priced at between $200,000 and $300,000, Magnuson says.


We dont have any problem finding builders who want lots, he says.


Magnuson declines to disclose the expected cost of site work and infrastructure improvements, and says he doesnt know how long it will take for the subdivision to be built out. At the expected price range for homes there, the development eventually will be worth roughly $30 million to $44 million.


The engineer on the project is Lake City Engineering, of Coeur dAlene, says Basler.


Bluegrass also is developing a larger housing project in Coeur dAlene called The Landings at Waterford, Magnuson says. That project, which has been under way for more than two years, includes about 900 homes and 200 multifamily units, he says.


The new Post Falls development is located across Spokane Street from a 52-lot development called Grayling Estates that is well under way, says Ray Kimball, civil engineer for Inland Northwest Consultants PA, of Post Falls, which designed the project.


Homes in Grayling Estates range in price from about $250,000 to about $325,000, says Steve White, president of Copper Basin Construction Inc., of Coeur dAlene, which is constructing and owns most of the development.