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Charlotte Condominium News-New Construction-Resales-Development

Jul. 02, 2004
Easy-upkeep `villas' are speedy sellers
Dominion Village seems to have hit niche in northeast Charlotte

DOUG SMITH

Developer Jack O'Rourke has sold three more townhomes than he has started at Dominion Village in northeast Charlotte, and he couldn't be happier.

When sales outpace construction, it's a good indicator that a product has found a niche.

O'Rourke's specialty at Mint Lake Construction Co. is the "villa" -- a single-story, two-unit brick building targeting empty-nesters and single women seeking ease of maintenance and the privacy of a small complex.

Record low mortgage rates have contributed to strong sales of condos and townhomes in Charlotte over the past three years.

Product types range from starter townhomes in the suburbs to posh "infill" condos in the most prestigious neighborhoods.

O'Rourke is among the enterprising developers designing residential communities to appeal to a formidable force in the housing market -- the baby boomer.

As boomers grow older, jettison their excess belongings and seek a slower pace of life, he believes they'll be drawn to projects like his.

Dominion Village is not an age-restricted community, but older residents can take peace of mind in knowing that their monthly dues cover exterior maintenance and landscaping.

In addition, O'Rourke said, the villas "are designed for aging in place," with no stairs, no steps, wheelchair-width doors and showers designed for wheelchair accessibility.

He plans 60 townhomes in 30 buildings on a 15-acre parcel of Dominion at Highland Creek.

That's Rhein Interests' 527-acre community on the eastern boundary of the 2,000-acre Highland Creek golf course community off Ridge Road between Interstates 77 and 85.

O'Rourke said Dominion at Highland Creek connects to I-85 via Concord Mills Boulevard.

He introduced his villa concept about five years ago in Mint Hill, where 84-unit Mint Lake Village sold out in 2 1/2 years.

That community -- at N.C. 51 and Idlewild Road -- now has a waiting list for resales, he said.

"The buyers at Mint Lake were mostly empty nesters downsizing and an unusually high percentage of single women -- lots of widows," he said.

He's touching the same market at Dominion Village, where townhomes range from 1,800 to 2,250 square feet and include three bedrooms, two bathrooms, a den and a two-car garage.

O'Rourke has sold 19 units, priced from $204,500 to $238,500. He has begun construction of 16 of them. Three model townhomes are nearing completion.

Standard features include Corian countertops, glass-block shower enclosures, ceramic tile bath floors and walls, walk-in closets, covered patios and security systems.

O'Rourke said residents will be members of the Highland Creek Homeowners Association, giving them access to the community's swim club, amenities and -- for a fee -- golf club.

He said many of the home buyers he sees are aging parents moving closer to children and grandchildren in the Highland Creek community.

O'Rourke believes the project, valued at about $13 million, will sell out by early next year.

Mint Lake Construction is the general contractor for Dominion Village. Architect W. Neill Fortune was the designer.

Doug Smith

 

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