Monday, March 24, 2008

New Townhome Development Approved in HV

Out here in Suburbia Central, a major step has been taken to focus on all different types of home dwellers.

In my opinion, townhomes are for a variety of homeowners. Even though there are many complexes that may target "empty nesters" or "young executives", these types of homes can be an attractive choice for anyone from 18-85 and beyond.

Recently, the city of Highland Village, where I happily call home, approved its' first town home and mixed-use development. The development will include 77 luxury town homes featuring six floor plans ranging from 1550-2500 square feet, with first floor master bedrooms and rear entry two car garages. Prices will start from the low to mid $200,000's. The District of Highland Villagewill also include retail shops, professional office space and restaurants. Construction on Phase 1 is expected to begin shortly (spring of 2008).

I imagine that as land becomes more of a premium and low-maintenance living becomes more poplular, townhomes and condos will be more and more desireable. While a small, nicely finished out unit may not be for a young family with two kids, it is ideal for that couple who married off their kids and are looking for something nice and new to enjoy retirement in. No yard to mow? Awesome! Just a concrete patio and some flower beds? I'm in. Master is on the ground floor? Woo Hoo!

As the Baby Boomers start to downsize and leave work behind, it's going to be a necessary adjustment the market will have to continue to make. Active adult communities like Del Webb's and Robson Ranch are resort-style living with activities and amenties that a semi-or retired person can enjoy. The new townhome development in Highland Village provides everything one could want or need. Shopping, doctors (I would imagine in the office space), restaurants and all within walking distance to grocery stores. Who could ask for more!?

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