Peek inside: New Myers Park townhouse community boasts units starting around $900K
Axios Charlotte, Brianna Crane
The Nolen is a new, 27-unit, European-inspired townhouse development in Myers Park. Units start at $929K.
Why it matters: With inventory as low as it is, even luxury listings are hard to come by in Charlotte. If you search Myers Park on Zillow, only 30 homes come up.
- With 27 townhouses soon to be available, The Nolen could nearly double the neighborhood’s inventory.
- “There is no land like this in Myers Park,” Bart Hopper, founder of Hopper Communities, told Axios on a recent tour of the community.
- Plus: It’s fun to dream.
Community plan: The units will be released in three phases. Once complete, there will be five layouts to choose from with three- and four-bedroom options. Homes range from around 2,300-3,500 square feet.
- The first phase, which includes eight units and three floor plans, has already hit the market. One of the eight units sold, and construction should be done by the end of the year.
- The community will also feature a park-like green space.
Price: Homes start at $929,000 for a 2,394-square-foot, 3-bed, 3.5-bath model. The larger floor plans are priced up to $1.2 million.
Design: The exterior is inspired by the English countryside, and the interiors are fresh and airy. Expect luxury finishes like hand-scraped, 5-inch hardwood floors, 10-foot ceilings, quartz countertops and porcelain tile and backsplashes.
- Some units have ground-floor patios and large rooftop terraces.
- Elevators are also an optional add-on for some units.
Who’s buying: Hopper said those who’ve shown interest so far run the gamut. He’s talked to local folks who want a second home, people from as far as New York or L.A., and young families.
Timeline: The first phase should be complete by the end of 2021. The other units will be done in 2022.
Location: The Nolen is near the corner of Selwyn Avenue and Runnymede Lane.
- The exact address of the model unit we toured is 2506 Runnymede Ln. You can visit noon-2pm and 4-6pm Monday-Friday and 10am-6pm Saturday-Sunday.
Here’s a tour of the model home:
*image credit: Axios Charlotte
Charlotte's Real Estate Market Is So Hot, Investors Want In Too
WFAE 90.7 – August 3, 2021 – image via WFAE Erin Keever
In many cities across the country, real estate is hot. Homes are in high demand and selling at a premium. It’s a boon to sellers who often field multiple offers above the asking price and find their homes sold in a day.
For buyers, this presents an ever-growing challenge. Charlotte’s real estate market is white-hot. Inventories are at historic lows which is driving prices up. Interest rates are low, driving demand and prices, but there’s something else at work: investors gobbling up homes and turning them into rentals.
We take a look at the impact of all this on buyers, sellers, renters and realtors and at how long this can last.
Guests
Ely Portillo, assistant director of outreach and strategic partnerships, UNC Charlotte Urban Institute
Jonathan Osman, broker and owner of Tryon Realty Partners
Bart Hopper, founder of Hopper Communities, a homebuilder based in Charlotte
Millennial market madness: How buyers in this generation are shaking up local housing trends
Charlotte Business Journal, Laura Williams-Tracy
Millennials famously put off buying homes longer than previous generations and are now getting a rude welcome to the real estate market. Trading that trendy urban rental for a first home is bringing new buyers face to face with high prices and fierce competition.
Buyers between the ages of 25 and 40 are now the fastest-growing segment of homebuyers. According to the National Association of Realtors, millennials now make up 38% of the home-buying population.
Sarah Airing and her fiancé, Garrett Ford, began looking at homes in October ahead of their May wedding. They encountered canceled home tours as sellers entertained multiple offers. Airing and Ford made offers on two houses only to lose out to higher bids.
On the third try, they landed a three-bedroom house with a renovated kitchen in east Charlotte.
“The third time, we were more aggressive,” Airing says. “We really loved this house we ended up with. We are saving money, and we have an investment now.”
In 2018, millennial homeownership was at a record low. The generation has waited longer than previous generations to set up households after graduating from college in the last recession and carrying $1.5 trillion in student debt.
Three years later, millennials still face financial challenges, but other factors weigh on their purchase decisions and are pushing them into the market, says Faith Triggs, an agent with Keller Williams SouthPark.
Covid-19 sent many home to work, creating the necessity for more space or the desire for less communal living. Young couples can trade two rents for one mortgage. In many cases, friends are becoming roommates with one paying rent to help make the mortgage.
Triggs says buyers are motivated by low interest rates and because they are already paying high rent.
“If you are paying $1,500 in rent for a small two-bedroom, and you can get a mortgage for $1,000 — you do the math. Why wouldn’t you do it?”
Other first-time buyers are relocating from larger markets, says Nick Hill, a Realtor with Allen Tate’s SouthPark office.
“I have had several clients and friends find out that their jobs are forever remote so they figure, why should I pay $4,000 in rent in New York City when I could have a three- or four-bedroom house here with a mortgage payment that’s half that,” Hill says.
Those with lower budgets are finding only fixer-uppers for less than $300,000. The average price point is $345,000.
“I have to help some understand that this is your first house, not your forever house,” Triggs says. “Let’s get you in your first house with 85% of what you want and then you leverage that to move up. We have to manage expectations so they see the long game.”
Hill says about a quarter of his millennial clients are not willing to compromise on location or amenities to get a new home and are choosing townhouses to stay closer to town.
About 70% of sales by Brookline Homes are to millennials, a growing percentage in the past year, says Andi Dirkschneider, Brookline Homes vice president.
Brookline has targeted Gaston County for construction as a way to keep its homes priced under $350,000. Dirkschneider says the builder has found affordable land there, and the commute into center city is shorter than from parts of Ballantyne.
Brookline is building in Belmont, Mount Holly and Cramerton and soon will begin in Gastonia with a 108-townhouse project called Beatty Woods. Homes will be priced in the low to mid-$200,000s. Brookline opened a model home in July and has already sold the first 70 homes. Other Brookline projects are in Huntersville and Concord.
About 85% of Brookline Homes are townhouses, though it has two projects coming up with single-family homes.
Dirkschneider, herself a millennial, says her conversations with her friend group helped Brookline determine what millennials want in their first homes.
Andi Dirkschneider, vice president of land acquisition and development at Brookline Homes, is pictured with townhomes at Beatty Woods in Belmont.
MELISSA KEY/CBJ
A look inside a model townhome by Brookline Homes at Beatty Woods in Belmont.
MELISSA KEY/CBJ
“We heard they were not finding what they wanted where they wanted to live,” Dirkschneider says. Luxury modern apartments set a high bar for amenities in new houses, Dirkschneider says, and Brookline aims to keep some of those amenities, such as dog parks, ample USB ports and smart locks that do not require a key in the door.
Dirkschneider says millennial buyers would quickly turn up their nose to laminate floors and carpet in the living room, so all Brookline homes have hardwood floors or engineered vinyl plank flooring.
Those features are part of the base package price, so buyers do not have to wonder how much the upgrades they want will cost.
“Buying a house is scary and a mortgage is intimidating,” Dirkschneider says. “We include features in the base price so there’s no sticker shock. The younger generation is so used to being able to price check anything.”
Bart Hopper, founder of Hopper Communities, develops townhouses at in-town locations such as lower South End, Wesley Heights and FreeMoreWest. Hopper says his buyers are generally younger people, singles or couples without children who want to stop renting but do not want to leave Charlotte’s amenities.
“We are selling primarily to millennials. They want to be near all the action, the restaurants, the shopping, the workouts,” Hopper says. “Millennials who have kids are going out to the suburbs, going further to get more house.”
Hopper Communities townhouses are priced from the high $300,000s up to the mid-$600,000s. A popular seller among younger buyers are four-level townhouses that include a rooftop terrace at its Bryant Park Terraces development. Every community includes a dog park to satisfy millennial pet owners.
Hopper says he believes the Covid-19 pandemic pushed millennials to want to leave apartment living with shared elevators and common spaces and move to their own home with their own HVAC system.
“It makes them feel safe,” Hopper says. “We see a lot of single young women buying and getting out of apartments.”
Hopper says low interest rates and strong demand means he presells units well before construction begins. Bryant Park Terraces on West Morehead Street just went vertical, and 13 of the 52 units have sold.
The same demand exists for single-family homes. Hopper Communities recently rezoned and engineered 300 residential lots in Mooresville for major production builders.
“If you can get land under contract, rezoned and engineered and ready to go for the site work, there’s a feeding frenzy of builders interested,” Hopper says.
This article was originally posted in Charlotte Business Journal
Local homebuilder sees housing demand in and around uptown still going strong
Charlotte Business Journal, Ashley Fahey
Speculation abounds about the migration patterns of urban dwellers because of the Covid-19 pandemic but one Charlotte homebuilder still sees plenty of demand for homes in and around the center city.
Hopper Communities this week filed a rezoning petition to build up to 20 townhouses on East 16th Street in the Belmont neighborhood, between Pegram Street and Louise Avenue. The company is gearing up presales for a second phase of its South End Terraces project at South Tryon Street and Remount Road, which will include 20 units.
It’s also under construction on townhouses near Bryant Park in west Charlotte and will soon close on land in the Lower South End area for a 79-unit project.
“Millennials are our target homebuyer … those are the folks coming more and more to market,” said Bart Hopper, founder of Hopper Communities.
He said buyers have ventured into the housing market in the past couple of months because of record-low mortgage rates and a desire for more space because of the pandemic. Realtors and other homebuilders, as well as mortgage lenders, in the Charlotte region are also observing this trend.
A recent Bank of America homebuilders report said while the pandemic is expected to have some impact on buying patterns, only about 18% of respondents it surveyed cited Covid-19 as a potential catalyst for moving. It found little delta between those living in urban areas versus the suburbs.
“In our view, survey results seem supportive of our thesis that demographics and affordability are the core underpinnings of U.S. housing market strength and that Covid-19 may simply serve as an accelerant in some instances,” the report said. “In other words, the notion of a Covid-19-induced urban exodus may be less pronounced than headlines suggest.”
Hopper said he’s seen buyer demand in both urban and suburban areas of town. In addition to building townhouses, Hopper Communities does lot development for national and regional homebuilders, typically in more suburban areas.
After a 45-day slowdown at the start of stay-at-home orders issued this spring, Hopper said buyer interest and sales for both urban and suburban product ramped up across the region. He said Hopper Communities has both infill urban townhouses and suburban lot development in its pipeline.
At the proposed Belmont project, Hopper said townhouses will likely measure about 1,400 or 1,500 square feet and be a more modern product, similar to what the company is building at South End Terraces.
The rezoning petition will come before Charlotte City Council in the coming months for a public hearing, followed by a vote at a later meeting.
This article was originally posted in Charlotte Business Journal
Hopper Communities Launches New Home Sales in Myers Park
Kings Square to include four European manor-style duet homes on South Kings Drive
Charlotte, N.C., March 21, 2019 — Hopper Communities has launched sales at Kings Square, an exclusive new residential development located at the intersection of South Kings Drive and Ardsley Road in Myers Park.
Kings Square will consist of four European manor-style duet homes with white brick exteriors oriented around a central courtyard. The four-bedroom homes will include open-concept living spaces, large gourmet kitchens, spa-inspired master bathrooms, expansive windows, raised patios, two-car garages and elevators to easily transport residents between floors. The new homes will range in size from 3,408 square feet to 3,587 square feet and start at $1.18 million.
High-end interior finishes will include polished quartz countertops, 10-foot ceilings on the main level, a living room fireplace and hardwood flooring finished on site. Homebuyers can also choose from optional upgrades such as an outdoor living patio, grilling station, plunge pool and a dual-sided fireplace in the master suite.
Walkable to nearby shops and restaurants at The Metropolitan and along East Boulevard, the boutique development is also convenient to Freedom Park and Little Sugar Creek Greenway, which will extend 19 miles when complete.
“Kings Square is a unique opportunity for a select group of homebuyers to enjoy luxury living at a walkable, infill location close to uptown and convenient to the amenities, shopping and dining of Myers Park and midtown Charlotte,” said Bart Hopper, founder of Hopper Communities.
Hopper Communities is currently building Myers Park Terraces, a new townhome community adjacent to Park Road Shopping Center, and Uptown West, a 74-unit townhome development in the Historic West End. The company also developed the SouthPoint at South End townhome community, which is in its final phase, and Grandin Heights townhomes in Wesley Heights.
Kevin Thompson and Jill Miller of Helen Adams Realty are handling sales for Kings Square. For more information, please visit www.kingssquare.com.
Hopper Communities launches new home sales in Myers Park
CHARLOTTE – Hopper Communities has launched sales at Kings Square, a new residential development at South Kings Drive and Ardsley Road in Myers Park.
Kings Square will consist of four European manor-style duet homes with white brick exteriors oriented around a central courtyard. The four-bedroom homes will include open-concept living spaces, gourmet kitchens, spa-inspired master bathrooms, expansive windows, raised patios, two-car garages and elevators.
New homes will range from 3,408 to 3,587 square feet and start at $1.18 million.
High-end interior finishes will include polished quartz countertops, 10-foot ceilings on the main level, a living room fireplace and hardwood flooring finished on site. Homebuyers can also choose from optional upgrades, such as an outdoor living patio, grilling station, plunge pool and a dual-sided fireplace in the master suite.
“Kings Square is a unique opportunity for a select group of homebuyers to enjoy luxury living at a walkable, infill location close to uptown and convenient to the amenities, shopping and dining of Myers Park and midtown Charlotte,” said Bart Hopper, founder of Hopper Communities.
Hopper Communities is building Myers Park Terraces, a new townhome community adjacent to Park Road Shopping Center, and Uptown West, a 74-unit townhome development in the Historic West End. It also developed the SouthPoint at South End townhome community, which is in its final phase, and Grandin Heights townhomes in Wesley Heights.
Kevin Thompson and Jill Miller, of Helen Adams Realty, are handling sales for Kings Square. Visit www.kingssquare.com for details.
This article was originally published in The Charlotte Weekly.
Currently Cayena
Raise your hand if you scroll through Austin’s latest real estate offerings, dreaming of your next home. NATALIE KOPP and NICOLE KESSLER of Gottesman Residential and Compass Real Estate, respectively, have us dreaming of a new build in particular: CAYENA. As the exclusive brokers of this new community in Southwest Austin, we wanted to sit down with them to get the exclusive scoop.
TSG: You’re hosting a Grand Opening party for Cayena on Thursday, April 4th, what should we expect?
Natalie Kopp: The Cayena launch party will be light bites, drinks, pop up shops and live music – open to all, of course! We hope that Austinites will bring family and friends to tour our model unit and four available homes to get a feel for all that Cayena has to offer!
TSG: This sounds like so much fun – count us in! A little birdie told us that you’ll also have some local vendors + brands popping up? Tell us everything!
Nicole Kessler: We thought it would be fun to invite local makers for several pop-up shops throughout our five completed homes. We wanted to showcase all that Austin has to offer, so the pop ups will feature everything from art, handbags and design accessories. We’re so excited to host FAWN & BLUE, Python Handbags, KERR ST CANDLE CO, INDIA HICKS, ERIN DONAHUE TICE ART, BRIT & BELLE and Red Denim. Fellow TSG Austin members LOOSE LEAF FLORALS and GRACIOUS GARLANDS are also doing a giveaway with us!
TSG: We live to tour homes, what’s the Cayena architectural vibe?
Natalie Kopp: The homes have a really sleek, architectural design that’s modern and minimalist but still very comfortable. Think open concept floor-plans, tons of natural light, high ceilings, rooftop terraces and chef-inspired kitchens.
TSG: We’re all about the rooftop terraces… You’re calling the homes in Cayena “City Homes,” what does that mean to you?
Natalie Kopp: The development is situated between downtown and the Hill Country, so you get the best of both in terms of views and proximity. It’s literally the perfect home base to experience all of Austin – especially South Lamar, South First and South Congress.
TSG: What’s the pricing like for these beautiful and brand new homes?
Nicole Kessler: Cayena offers seven unique 3-4 bedroom floor plans starting from the high $500s. The standard construction for each home is exceptionally high-end with wood floors, quartz countertops, Bosch appliances and Moen faucets. Buyers have the opportunity to customize their home through the design process to truly make the home their own.
TSG: We know it’s all about the location, but are there any amenities that should be on our radar? We hear the HOA is really low for a luxury neighborhood like this…
Nicole Kessler: Yes – At only $175 per month, the HOA is a steal! This covers the landscape maintenance as well as the front & back lawn irrigation… which is a dream for ease of maintenance or a lock & leave lifestyle!
TSG: What does the buildout of Cayena look like?
Natalie Kopp: The development is already well underway, and we expect all 41 homes to be completed within three years. We’re really excited about the seven different floor plans and the really private-but-still-connected community.
TSG: A quick side note to say just how much we love this dream team – Nicole (Compass) + Natalie (Gottesman)! How can interested buyers get in touch with you ladies to learn more? A few units have already been sold and we have a feeling they’re going to go fast…
Nicole Kessler: The best way to learn more about Cayena is to visit our WEBSITE or make an appointment with our fabulous sales team. We would also love to meet you at our Grand Opening event on April 4th!
Can’t afford a house near uptown? These townhomes could be the solution.
The Charlotte Observer, Danielle Chemtob
As the dwindling supply of houses in Charlotte pushes prices higher, there’s one bright spot in the market: townhomes.
New townhome construction increased by 20 percent last year, according to data from housing market research group Metrostudy. Builders started on just over 1,800 townhouses. And more have been announced this year by homebuilding giants like David Weekley Homes and local developers alike.
But construction of single-family, detached housing was essentially unchanged last year, according to Metrostudy data, even though Charlotte’s population is growing rapidly. And prices reflect the tight market — the average new home price in 2018 was nearly $350,000.
“There’s this old saying that people buy townhomes where they can’t afford houses and people buy condos where they cant afford townhomes,” said Tim McCollum, Principal at developer Revolve Residential.
Many of the townhome projects underway offer products in the $300,000 and $400,000 range in neighborhoods close to Uptown, where buying a house for that price is becoming increasingly difficult. But others are offering more expensive, luxury experiences.
Two projects east of Uptown from the same builder illustrate this.
David Weekley Homes’ high-density division is building the McClintock, a development in Plaza Midwood with 21 units starting in the $500,000 range. The homebuilder also plans to start construction soon on a community in nearby Villa Heights, with 56 townhomes, as well as paired homes and single-family homes, starting at around $300,000.
The demand is partially driven by aging millennials, who are moving out of apartments but may not be ready for home ownership, McCollum said. Revolve built the Lumina Townhomes in South End a few years ago, and he said the 20 units sold out in 10 days.
Development company Hopper Communities built its first townhouse project in South End a few years ago. The company’s founder, Bart Hopper, said townhomes are cheaper for builders too, especially with rising land and construction costs.
“You can get more townhomes on a property than you can houses,” he said. “So it helps make the economics work.”
Here are some of the other major townhome developments in the area.
DAVID WEEKLEY HOMES
David Weekley sold the second highest number of townhomes in the Charlotte market last year, according to Metrostudy. The homebuilder is also expected to start sales on Brightwalk, in the Double Oaks neighborhood, in the spring. The 50 units range from 1400 to 2000 square feet, and will be near Camp North End, a nearly 80-acre redevelopment of an old industrial site.
Sales will start on the Plaza Midwood community this summer, the company said in a January release.
HOPPER COMMUNITIES
Though Hopper’s company started its first project a few years ago, it already has four communities underway. The first phase of its South End project was fully leased, and a 33-unit second phase is under construction. Hopper is also working on two communities just west of Uptown, Grandin Heights and Uptown West. All three are offering townhomes in the $300,000 and $400,000 range.
The company is also building six, three-story luxury townhomes in Myers Park, priced in the mid-$600,000 range.
VISTA HOMES
Charlotte-based Vista Homes announced Tuesday it was starting sales at the 14 townhomes in its Plaza Row community in Villa Heights. Pricing starts in the upper $300,000s, the company said.
MATTHEWS PROJECTS
Multiple townhome developments are underway in Matthews, as Charlotte’s development wave expands further out. Greenville, N.C.-based Taft Development Group started construction on Residences Galleria, a 250-unit residential project on 20 acres on Monroe Road near the Charlotte city line. The development features both townhomes and apartments, and move-ins are expected to start in winter of 2020, Taft said in a March release.
David Weekley homes recently celebrated the opening of Eden Hall, which offers both townhomes and single-family homes not far from downtown Matthews. The townhomes start at around $360,000.
This article was originally posted in The Charlotte Observer.
New modern housing development Cayena headed for Southwest Parkway
Community Impact Newspaper by Nicholas Cicale
Cayena, a new modern housing project, is headed for the Southwest Parkway area, according to North Carolina-based developer Hopper Communities, which held a launch party for the development in Austin on May 9.
Cayena will be located at 5204 Wier Hills Road, Austin, and will include 41 detached homes. Seven different “minimalistic” customizable floorplans are available to interested owners, according to a news release by Gottesman Residential Real Estate, the development’s Austin property broker. Cayena homes will include 2- and 3-story options. Home prices are expected to start at $500,000, the release states.
The project broke ground on four spec homes and a model home the week of May 7, said Natalie Kopp and Nicole Kessler, real estate agents with Gottesman Residential. The community’s streets have already been paved, and basic utilities and streetlights have been installed, she said.