Condo-Townhouse market grows in Eugene
From empty nesters and retirees, to people who just want a change from single family homes, condominiums and townhouses are becoming popular options in Eugene.
We have a look tonight at the market and why it's growing.
We're on a tour of the first of 40 upscale townhouses being built as part of the Crescent Village project.
Officials tout this as the first urban village project of its type in Eugene.
Local developer, Todd Bardwell, tells KVAL, "This is a brand new idea and it's spreading across the country. There's some in Portland and they are a hit."
The three story townhouses are being merged with apartments, some single family homes and retail. Even with a hefty price tag of $475,000 and up, units are already being reserved.
"We have eight of the 40 units reserved, and we have eight different floor plans ranging from 2260 square feet up to 2700."
Developers say these new townhouses fit right in to the city's goals for more infilling and more "nodal" development--where residents spend more time living here, and if they need services, they'll be just a short distance away at the town center, where a grocery store is planned.
Near Downtown Eugene is The Tate condominiums. Opened last summer with 49 units for sale, all but two are occupied.
The site of the old Sears building is another proposed smaller condo project and others abound.
Retired real estate business owner and owner of The Tate, Jean Tate, says expect more projects to flourish. "To me, the market is ripe for what developers want to build downtown (the former Sears site), the one bedroom or studios starting 600 to 1000 square feet. Our smallest units were just under 1000 square feet, so I think there's a real niche in that market," explains Tate.
Developers say with buildable land in Eugene become more scarce, look for this trend to continue. Todd Bardwell concludes, "We are running out of property and we need to be smart about the way we build from here on out."
The first of those Crescent Village townhouses should be ready for move-in, by late April.
We have a look tonight at the market and why it's growing.
We're on a tour of the first of 40 upscale townhouses being built as part of the Crescent Village project.
Officials tout this as the first urban village project of its type in Eugene.
Local developer, Todd Bardwell, tells KVAL, "This is a brand new idea and it's spreading across the country. There's some in Portland and they are a hit."
The three story townhouses are being merged with apartments, some single family homes and retail. Even with a hefty price tag of $475,000 and up, units are already being reserved.
"We have eight of the 40 units reserved, and we have eight different floor plans ranging from 2260 square feet up to 2700."
Developers say these new townhouses fit right in to the city's goals for more infilling and more "nodal" development--where residents spend more time living here, and if they need services, they'll be just a short distance away at the town center, where a grocery store is planned.
Near Downtown Eugene is The Tate condominiums. Opened last summer with 49 units for sale, all but two are occupied.
The site of the old Sears building is another proposed smaller condo project and others abound.
Retired real estate business owner and owner of The Tate, Jean Tate, says expect more projects to flourish. "To me, the market is ripe for what developers want to build downtown (the former Sears site), the one bedroom or studios starting 600 to 1000 square feet. Our smallest units were just under 1000 square feet, so I think there's a real niche in that market," explains Tate.
Developers say with buildable land in Eugene become more scarce, look for this trend to continue. Todd Bardwell concludes, "We are running out of property and we need to be smart about the way we build from here on out."
The first of those Crescent Village townhouses should be ready for move-in, by late April.
