Stars align over Star Valley

The landscape is changing rapidly and lots are selling quickly as the stars have aligned for one of Custer County’s newest housing developments known as Star Valley Estates. The project has grown by approximately 40 acres in recent days as well.
Early last year the former state STAR Academy property south of Custer was sold at auction to a corporation made up of Mark and Kim Nielsen and Paul and Haylee Vershure, all of Custer. The Nielsens own Nielsen Enterprises, an excavating company, and the Vershures are owners of Alpha Builders, a residential contracting company. Together the two couples formed Split Rock, LLC in order to develop the 100 acres to the east of the former state facility into acreages for homesites.
In the 10 months after finally closing on the property in mid-June of 2021, many of the 22 lots have sold quickly with only five remaining on the market today. The lots are all three to six acres in size and several have their own ponds or share them with adjoining properties.
“We’re kind of impressed that we’ve sold as many as we have because it hasn’t even been a year yet,” said Kim Nielsen.
The developers say roads have been built by Nielsen to serve all of the lots and construction has begun on one home and a garage has been built on another lot. In addition, one of the existing homes and lot that was part of the STAR Academy facility has been remodeled and sold as well. Other older houses on the property are in the process of being moved out.
There is some historical preservation going on at the property as well.
“The people who bought the barn lot are going to restore that,” said Haylee Vershure, “so that was really good news to hear that will be kept intact. They have a new roof on that already and it looks really good.”
And, while the number of unsold lots is shrinking, more will be coming available soon. The developers recently purchased another adjoining 40-acre property which will be divided into four 10-acre lots.
The property, which had been sold by the state in an auction prior to Split Rock purchasing the main parcel, sits to the north of the STAR property behind the Forest Service Tatanka Hot Shot base. The rectangular parcel is surrounded on three sides by Forest Service land.
The Nielsens have stayed busy with putting in the roads and ponds as well as approaches and driveways for some of the properties and the Vershures have received calls from some of the buyers asking about homebuilding. However, Vershure says they are booked several years out at this point.
“I think we made a good investment and I think progress has gone well,” said Nielsen. “We’re still getting calls. I know we have some people interested in lots right now.”
“I agree,” said Vershure. “Paul and I are really very happy with how things have gone. The Nielsens have been great partners and we’re happy.”