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Feb. 09, 2005
The Bluffs
Condo project is less urban, less costly
Boulevard Company goes with
2-bedroom, 2-bath units
DOUG SMITH
The Boulevard Co. devotes a lot of
attention to seeking out what it perceives as unfilled niches in the condo
market.
Now, company president Chris
Branch believes he has discovered one: two-bedroom units priced under
$125,000 for first-time buyers and empty-nesters.
He also has found his ideal site
for such a project after nearly four years of searching: 5 acres on
Woodlawn Road
near
Park
Road
Shopping Center
in south
Charlotte
.
The Boulevard Co. plans 66 units
in The Bluffs, to be built on property that will be vacated by Unity of
Charlotte church when it relocates later this year.
The uptown condo market is
sizzling with four high-rise projects announced in the past 10 months, but
Branch said buyers in the niche he's catering to prefer something less
urban and less expensive.
At The Bluffs, they can walk the
tree-lined streets in nearby neighborhoods or dine, shop or see a movie at
Park
Road
Shopping Center
within a half-mile of their condos.
Near record-low mortgage rates are
fueling home sales and creating a market for entry-level condos. In some
cases, buyers find they can own for less than they're paying in monthly
rent.
Branch said The Bluffs "will
be the most affordable project The Boulevard
Co.
has done."
Prices will range from $124,900 to
$149,900. Valued a slightly less than $9 million, the project will be near
the Woodlawn-Scaleybark Road intersection, beside Gateway Homes' sold-out
Preston Townhomes, a 25-unit development.
Branch said The Bluffs will
consist of three-story brick-and-stucco buildings reminiscent of the
bungalow-style architecture prevalent in Dilworth and other older
neighborhoods.
Each building will have 12 condo
flats configured so every buyer will own a corner unit with either a
balcony or a patio.
Condos will be slightly less than
1,000 square feet each and include a master bedroom suite with a bath,
plus a second bedroom and bath.
Branch said the site's zoning
would have allowed 84 units, but The Boulevard
Co.
kept the density lower to create green space and walking areas for
residents.
He hopes to start construction by
late this year and develop the buildings in phases. The first units could
be delivered by late spring 2006, he said.
Branch said The Boulevard Co.
generated a waiting list consisting of people who couldn't get into its
sold-out Parkview condominiums overlooking
Latta
Park
in Dilworth.
That has resulted in six
reservations at The Bluffs, he said.
The Bluffs will resemble 30-unit
Parkview so buyers will be able to preview The Bluffs by touring that
project, Branch said.
The Boulevard Construction Co.
will build the project, designed by FMK Architects.
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