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A North Idaho developer has changed its plans for a big residential and resort development it owns on the Pend Oreille River, near Sandpoint, opting for more, single-family homes, rather than condo-style housing, because homes are easier to finance in the current economy.
The developer, Sandpoint-based Waterfront Property Management LLC, recently re-platted a portion of its Dover Bay resort to add 86 one- or two-bedroom single-family detached homes called bungalows, says Ralph Sletager, managing partner. Initially, that part of the development, called Parkside, was envisioned to include 92 condominium units,he says.
The development, located about 1.5 miles west of Sandpoint along U.S. 2, also includes resort-type facilities. Waterfront Property Management is developing and operating both the commercial and residential portions.
Overall, the Dover Bay development is approved for 540 homes, though plans now call for 450 homes, with about 50 percent of its 300 acres to be left as open space, Sletager says. About 31 condo units have been constructed and sold in two of 11 distinct neighborhoods, and altogether 168 units or home sites have been...