Evolving The American Dream

Dated: 10/31/2017

Views: 79

American housing continues to evolve as new forms of shelterarise to meet changing demographics and consumer demands.

We have seen in the Raleigh area a surge of Micro-condominiumunits, upscale townhouses, and high-rise towers and as reported in the localnews the Tiny Home exclusive developments. This may represent a new markettwist for the Carolinas. But that does not always mean innovative housing typeswill be a success in the Triangle marketplace.

Builders always want to push the envelope, but then there’sthe question of risk and return. Those who are first to innovation pay apremium price says Bobby Young CEO of NC Regional Builders.

Young shared his insights with me this week on his thoughtsof the “Best of the Best in Residential Housing Types” And he based hisassumption on the MAYA principle—the “most advanced yet acceptable” design.

“There is a need for innovative housing,” He said there is adifference in cutting-edge design and new kinds of housing that represent newbusiness opportunities that work. The local real estate is always in flux, andland use dynamics must change to achieve the “Best Use”.

Many builders are focused on creating housing that appealsto millennials and hits the lower price points that many younger people canafford.

One notable millennial-oriented product is the 28 Granddevelopment in Detroit. The rents are affordable, with units at less than$1,000 a month, and the square footage is tiny—less than 300 square feet.

“It’s kind of like tip-toeing into the ‘tiny house’movement,” said Allison King, division president of Garman Homes in NorthCarolina. WRAL Reported on October 31, 2017 that there are now three exclusive TinyHome Projects. However, these developments do have their share of opposition.Individuals in traditional residential based homes fear that tiny homes couldnegatively impact their property values.

Another new type of housing that has begun to emerge is the“stacked flat.” Notable stacked flats buildings, called the Cleo at PlayaVista, have recently been built in California by Brookfield Residential. Thefour-story Cleo, designed by KTGY Architects, offers flats priced at over $1 million.This innovation design received a major award from the National Association ofHome Builders.

While Raleigh has not seen the tiny homes or stacked flats developmentsin the area, urban innovation is taking hold. The successful developers align theircutting-edge design along with compatible amenities in strategic locations. Thatdelivers needed revitalization to areas and creates a vital businessopportunity that is currently working in our market.

Blog author image

Gregory Buscher

Anyone who knows me will tell you I have never met a stranger. I enjoy getting to know people and helping them however I can. That’s what prompted me to change career paths and become a Licensed R....

Latest Blog Posts

Considering A Fixer Upper

Do it yourself (DIY) is becoming quite common, especially when buying a house. Whether you are seeking a bargain or have a long list of requirements for your new home, there are a few things to

Read More

You Need An Agent Who Will Always Put You First

                    You Need an Agent Who          

Read More

Looking For A New Home In Apex

There is plenty of new construction in Apex.  See all the listings .JUST CLICK HEREWhich neighborhood do you want to check out?Abbey RunArcadia WestBella CasaBlaney FarmsChelsea RunDeer

Read More

How To Get The Highest Price For Your Home

If you're selling your home, much depends on how well you price your home, the first time. Getting that list price just right can mean a really quick sale or price reduction after

Read More