Nebraska developer buys Good Sam building for apartment complex

A building that has sat vacant for months after years of good use now seems to have a new lease on life.

Zoul Properties LLC revealed last week they have bought the Good Samaritan Society-Fontanelle building. The nursing home property has been vacant since the facility shut its doors in November 2022 citing numerous operating challenges following the pandemic.

Zoul intends to revelop and renovate the building into an apartment community.

The property will be converted into 25 apartments consisting of one and two-bedroom apartments and have features like a community room and laundry facility. The investment by Zoul Properties is expected to be $1 million, a press release said.

“We have been very impressed with the Fontanelle community. It offers an exceptional quality of life and has a strong sense of community and community spirit,” said Zachary Z. Zoul, owner and managing member of Zoul Properties LLC. “Local officials have demonstrated a positive and progressive approach to community development. Good Sam has been very encouraging and supportive of our plan to create more housing and put the building to good use.”

The former Good Samaritan building is 24,000 square feet, all on one level, and is located on a large, well-landscaped property. Renovation work is expected to kick off late this year and continue through the summer of 2024, with residential appartments available for lease and occupancy shortly thereafter.

“We are pleased to be in Fontanelle and have the opportunity to restore the property to a productive use and undertake its development,” Zoul said. “The property is in excellent condition and will be an asset to Fontanelle for decades to come. It will add very needed housing serving Fontanelle and the area, providing a new option for people of all ages and families as well.”

In a statement provided to the newspaper, Fontanelle Mayor Mary Sturdy-Martin said Zoul Properties will be a great addition to the rural community of Fontanelle.

“Currently, it’s a challenge for those wanting to move here to find housing. We welcome both another business and more residents. Our community offers an attractive quality of life through many areas from a lower cost of living to fostering both individual and family involvement through an open and welcoming atmosphere,” Sturdy-Martin said.

The mayor continued, saying she sees area parks as great ways new residents could enjoy nature, and two internet options in Fontanelle await potential remote workers. There are several other employment opportunities within a 30-minute drive, she noted.

“Our community is looking forward to welcoming Zoul Properties, LLC,” Sturdy-Martin said.

Zoul Properties manages apartment properties in Nebraska, Iowa, Minnesota, Missouri and Kasnas, including Woodland Park apartment communities in several places in Nebraska, Iowa and Kansas, including the town of Adair.

In Iowa, third party property management is provided by Iowa West Realty, a division of Zoul Properties.