Tweaks to concept spurned by over-55
buyers spell success
The Sedgefield Parc townhome development in south Charlotte has become an
"overnight" success -- only five years after it was announced.
Sales, lackluster in the early years, are booming today because the
developers were willing to listen to buyers and refine the project to meet
market demand.
Sedgefield Parc, near the Park and Marsh roads intersection beside St.
Luke's Lutheran Church, started as a village of 42 two- and three-story
garden flats and 11 patio homes restricted to buyers age 55 and older.
Today, it's a 29-unit unrestricted townhome community of duplexes,
triplexes, fourplexes and 1 1/2-story homes selling for $174,900 to
$225,800.
Only two units sold in the early going. But since the age restriction
was lifted in late May, the total has climbed to 14.
"Basically, they are now selling faster than we can build
them," said George Mundle of Woodlawn Development, co-developer of
the project with Sam Salloum of Salloum Ventures.
Some empty nesters are buying, Mundle said, but the recent surge is
being fueled mainly by "the classic young professional."
The original plan looked good on paper. With the endorsement of
neighboring St. Luke's, Mundle designed homes that would allow aging
church members to remain in the neighborhood.
"We thought it would be an appealing down-size option for the
55-plus age group," he said. "That was not the case. People
wanted to stay in their homes as long as possible, and we didn't have
things like a golf course and clubhouse to offer them."
Also, he said, buyers preferred single-level patio homes over
multistory garden flats.
Mundle made two trips back to the planning commission and City Council,
first to convert the project to all patio homes and then to lift the age
restriction.
Now, he said, "Our comfort level is very good." The
developers expect to sell out the estimated $12 million project by year's
end.
As with most infill developments, location is a key -- especially for
young professionals working in the center city's office towers and
close-in medical centers.
Sedgefield Parc is about 3.5 miles from The Square and convenient to
Park Road Shopping Center, Freedom Park and the Park Road YWCA.
Units are sold as townhomes, meaning that buyers own their yards, much
like single-family homeowners.
"We found that many home owners want to own their own front and
back yards, even if the lawns are maintained by the homeowners'
association," Mundle said.
The 4-acre community is fenced and gated. Unit sizes range from 1,242
square feet for a two-bedroom, single-story townhome to 1,754 for a 1
1/2-story design with an upstairs bathroom and two bedrooms.
Standard features include tile floors in kitchens and baths, hardwood
foyers, crown molding, gas fireplaces, attic storage and back porches,
patios or rear decks.
Four buyers have moved in. Mundle said a duplex, triplex and fourplex
are under construction.
Co-developer Salloum Ventures also is the general contractor. Narmour
Wright Associates designed the townhomes.