After a number of false starts, which saw several ownership groups stymied by the city in redeveloping the site, construction is under way on the first new homes to be built there in more than a half century.

Security Properties Inc. of Seattle, which purchased the Project from a local ownership group that included experienced developers Bill Parnell and Larry Ward along with other investors such as car dealer John Hern and Realtor Jack Ensign, has put its plans for 165 new homes to be built on the site in what it terms an “urban village,” into action.

The company has been issued grading permits for 26 cottages, six courtyard homes, 21 bungalows and eight townhouses. Construction of three of the 16 model homes there began in March.

According to Windermere Real Estate which is marketing the development, prices will range from $140,000 to $180,000, and six of the courtyard homes, will be priced from $195,000 to $220,000.