The Jan. 4 Quad-City Times article states 71 new homes at a cost of $47.6 million are being completed on the Rock Island Arsenal. That equals $670,000 each, plus as stated, there were additional contract expenses, possibly 5 percent or another $30,000 for a total of $700,000. The land was ‘free,’ versus any new home or condo being built in the Quad-Cities that will have the additional cost for a lot, ranging from $50,000 to $100,000. It appears a comparable home would cost $750,000.
These homes range from 1,630 to 2,520 square feet, or a square foot cost at an average 2,075 square feet at $360 per square foot. Wow. Also, the Arsenal tore down homes built in the 1970s. There are thousands of homes built in that era in the Quad-Cities that don’t get torn down; they get remodeled at reasonable expense. What a waste.
This is another example of government waste and these projects are probably going on all around the country. No wonder we are $200 trillion in debt and growing. Don’t get me wrong, armed forces members and their families deserve good housing. However, a $750,000 home seems obscene.
Col. Kenneth Tauke says they should build more. I don’t know who got the contract to build these, but if they insist on building more, I hope they contact local home builders to competitively bid. There are not a lot of new $750,000 homes being built in the Quad-Cities, but there are 71 on the Arsenal. Is anybody there, anybody care?