Pulte Homes has released a price list and schedule of proposals for the first 22 row homes to be built in the Highland Bridge area of Highland Park, and the prices and process have already taken some potential buyers by surprise.
Housed in two buildings, townhouse-style homes on Boland Avenue and Mount Crive Boulevard will cost between $ 594,000 and $ 763,000, but advertised prices are floor, not ceiling.
The 12-minute promotional video explains that several proposals for new construction will be accepted between January 18 and 20, in much the same way that offers are viewed in the resale market by homeowners looking to sell their old homes. In other words, in violation of industry standards, Pulte is touting a two-day betting war.
“Nothing sells for less than $ 600,000 if you start at $ 594,000,” said Highland Bridge realtor Jim Siebold, who is not affiliated with Pulte, the national builder. “As soon as you choose something new – like a higher level carpet – it will go up. At the same time, I think that there is a huge demand for it, and in what incredible place they can be. They would not rate them where they rate them without careful market research. ”
After submitting an offer, buyers can look forward to a rapid improvement in the situation. The bids will be confirmed on January 21, and sales contracts will be signed on January 22, Pulte reports. Resettlement is expected to begin next summer.
The first two buildings off Boland Avenue (buildings # 6 and # 7) will span a total of 22 rows of houses between each other, located adjacent to the main green and central water feature in the northeastern corner of the Highland Bridge. Pulte said it will build 166 row houses in the first phase of development, or 320 row houses in total.
The latest design includes three bedrooms, two and a half bathrooms, a double garage and 1,930-2,300 square feet. Virtual sales meetings start on Saturday. The model row house is likely to be available for visiting by early to mid-January.
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Some observers hoped that terraced houses would be more affordable, although the decision to start by launching only 22 of the 320 terraced houses on the market is probably Poulte’s way of checking prices. A spokesman for Atlanta-based Pulte Group was not available for comment on Thursday.
“Even when we were developing the master plan, people were really interested in town houses,” said St. Paul City Councilor Chris Tolbert on Thursday. “They are really attractive for their location and neighborhood, and for people looking to cut down on size. We don’t have a lot of this product, especially in Highland Park. This is not surprising to me. I suspect this is a market factor. If people are not willing to pay that much, I think the market will improve. But people want to live in St. Paul right now. “
Pulte’s promotional material notes that the terraced houses will be located in one of the “most charming and classic neighborhoods” of the sister cities and represent a slightly different approach to the capital: “Combining the story of St. Paul with the version that exists today, to a vision of where heading for Saint Paul, Highland Bridge takes a sustainable and innovative approach to urban life; while keeping the cornerstones of our capital close at hand. “
Elsewhere on Highland Bridge, a former Ford Motor Co. manufacturing campus being remodeled by chief developer Ryan Kos. – Coldwell Banker Realty-Crocus Hill was in the sale of detached housing lots on Mississippi River Boulevard. At least 20 of the 34 lots are up for sale with sales prices ranging from $ 1.5 million to $ 3 million, with closing scheduled for this week. These plots were once conceived as apartment buildings, consisting of two to six residential buildings per building, but now they are more likely to be single-family houses.
Construction on four condominiums and rental units has been on hold, but several other affordable housing units are moving forward, as is the medical office building and a new Lunds & Byerlys grocery store.