Townhome Living Is On the Rise

Townhome Living Is On the Rise

With land prices going up across the board along with building costs, townhome living has become increasingly attractive to all sorts of buyers. Townhome living is nothing new as they’ve been around for decades, but recently, options are becoming more and more prevalent.

Now, it might be obvious, but what is a townhome? If you Wikipedia it, the history of a townhome is quite interesting considering why people often decide to live in a town home:

In the past, “a townhouse was the city residence of a noble or wealthy family, who would own one or more country houses in which they lived for much of the year. From the 18th century, landowners and their servants would move to a townhouse during the social season.”

It’s funny to see that even in the past, people we’re attracted to townhomes because of the social component. That couldn’t more true today. Since townhomes are typically vertical in nature with multiple floors of living, they tend to be clusters with many units in one complex. This can be very desirable when located around vibrant and bustling areas where buyers are looking to capitalize on their surroundings rather than focus on maintenance of their homes.

And, with pricing going up across the board and demand for living options near these walkable districts at an all time high, townhomes are becoming a great option when zoning allows. In the near future, we see townhomes and more dense units hitting the market in an effort to create more “affordable” or workforce housing options.

So, lets take a look at some of the top townhome projects in the works near in Cincinnati.

BROADWAY BROWNSTONES in Loveland

Priced from $399,000 • 1,900 Sq. Ft. • Only 1 Unit Left!

The Broadway Brownstones are located directly on the Little Miami Bike Trail in Downtown Loveland. With an bustling downtown district with Breweries, restaurants, candy shots, and an awesome new jewelry shop (shout out to Welling and Co!), Loveland is a force to be reckoned with! Dont miss the chance to live at Broadway Brownstones.  Only One Unit Left… Builder Model! Check out the full website here

 

THE ALLORA ON MADISON in Oakley

Priced from $495,000 • 2,000 Sq. Ft.  • Only 4 Units Left!

The Allora has been one of the top selling townhome project in the Cincinnati area. It’s no surprise through given that it’s in the core of downtown Oakley next to St. Cecelia and steps from the Madtree, Crossroads, and pretty much every possible convenience you could ask for. Check out the available units here

 

 

 

PARK MANOR in Blue Ash

Priced from $600,000

Luxury living in the heart of Blue Ash!  Luxury, Convenience and Carefree living in a beautiful master planned community that offers something for everyone.  Learn more about the Park Manor Townhomes here!

 

If you find that townhome living sounds like the perfect solution for you, reach out to us!  We can give you more information on the featured townhomes above, or help you find another community that is perfect for you!

Luxury Townhomes Coming to Oakley

Luxury Townhomes Coming to Oakley

Business Courier Article 9-6-18 by Tom Demeropolis.  Original Article found here

A new luxury townhome development is coming to the heart of Oakley.

PLK Communities LLC plans to build 19 townhomes at the corner of Madison Road and Taylor Avenue, just steps from Oakley Square. The project, known as the Allora on Madison, will have homes starting at $495,000.

Nick Lingenfelter, vice president of development with Sycamore Township-based PLK Communities, said the developer originally was looking at a larger-scale project for the property at 3133 Madison Road.

“After working with community and other partners in the area, it made sense to build residential,” Lingenfelter told me.

Allora on Madison will be built on property that was most recently a Fifth Third Bank branch location. PLK Communities purchased the two-thirds of an acre site from Fortus Group in July 2017 for $1.15 million. Fortus had planned an 82-unit apartment building, parking below grade and street-level commercial space.

Demolition of the former bank branch is expected to start in the next 30 days.

Each townhome will be 1,800 square feet, with three bedrooms, two and a half bathrooms and framed for optional elevators. Other features will include three decks for each townhome, including a private rooftop deck, a two-car garage and yards for several units.

The homes will have high-end finishes throughout, including granite or quartz countertops, nice cabinetry, hardwood floors, 10-foot ceilings on the main floor and 9-foot ceilings on the bedroom floor.

Allora on Madison will be LEED Silver. The project is part of PLK Communities’ Lifestyle Collection, which also includes the Broadway Brownstones in Loveland.

The development will include three buildings with eight units facing Madison Road, six units facing St. Cecilia Catholic Church and five units facing Taylor Avenue.

When designing Allora on Madison, Lingenfelter said he learned a number of lessons from previous projects: Buyers are interested in prime locations, contemporary designs on the interior and exterior and the ability to have a monthly payment all-in under $3,000 with only 10 percent down. Having LEED Silver certification will reduce the taxable value of the townhomes by $400,000 for 15 years, as the city of Cincinnati offers a residential tax abatement.

Lingenfelter said the all-in monthly payment for a townhome at Allora on Madison will be about the same as the monthly payment on an existing $325,000 home in Oakley.

Denis Back & Associates Architects is the architect for Allora on Madison. A contractor is expected to be selected in the coming weeks. PLK Communities selected Build Cincinnati of Coldwell Banker West Shell to list Allora on Madison.

Mike Hines, co-founder of Build Cincinnati, said the location in Oakley gives buyers a walkable neighborhood with suburban conveniences nearby.

“There’s not a single urban neighborhood that has as much to offer as Oakley does,” Hines told me.

The development’s name comes from the Italian word for “then,” or “next.” Allora on Madison is the next project for PLK Communities in Oakley, following its townhome project 2940 @ the Square.

While homes will start at $495,000, pricing is still being finalized on the townhomes. Lingenfelter and Hines expect to have final pricing in the next 30 to 60 days. They also are finalizing interior designs of the townhomes, which will have three distinct options for the finishes.

Allora on Madison is expected to deliver townhomes in early summer 2019.

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