'The Arc' unveils 38 new affordable homes in Post Falls

POST FALLS — A 38-unit housing development intended to address the region’s housing shortage is nearly ready to welcome its first residents.

“The Arc” will hold a soft grand opening from 11 a.m. to 3 p.m. Wednesday to introduce affordable three-bedroom, two-bath homes priced at $375,000. It is at 324 N. Corbin Road. 

Each home features a garage, fully landscaped yards, and a full suite of appliances. These turnkey homes are restricted to owner-occupants, with resale limitations designed to preserve long-term affordability for local residents, a press release said. 

"A first-time buyer can just bring their personal belongings and furniture," said Noah Stam, project developer at Stam Structures.

Kiki Miller, founding member of the Housing Solutions Partnership, said nine homes are already sold and nearing completion, while a waiting list has been created for the remaining units.

“This is an exciting opportunity for our local workers to become homebuyers,” Miller said. “I applaud the effort and diligence set forth by the Stam Structures team to serve our communities.”

The Arc plans to offer outdoor features to attract young singles, couples and families. Potential amenities include an outdoor gym, pickleball courts, a gazebo and barbecue area, and a dog park.

According to the Coeur d'Alene Regional Realtors, the median price of a single-family home in Kootenai County was $547,250 in September, up 3% from a year ago.

The number of homes sold through September totaled 1,892, a 4% increase from the same time last year. The number of active listings, as of Oct. 3, was 1,123, down 5.6% compared to one month ago, but nearly the same as a year ago.