I was completely delighted to see that framing had started on the assisted living project on Chiesa Road. This blog reported on May 8 of this year that framing was months behind schedule. Weather was blamed for the delay, but I work in this business. I can assure that more than weather was involved. That is evidenced by the fact that framing has just now started. Major construction slow downs from rain ceased several months ago.
In any event, it's once again underway and the facility is certainly needed in Rowlett. The 2x4s are fresh, so we're a long way from finishing....even if there are no more mysterious delays. Say, completion in 6 months.
I drove thru Homestead Village at the same time. There are 18 houses started, including two models. Weekley and Cambridge homebuilders moved into the subdivision at the same time, about mid June. That's when the first "for sale" signs went up on the lots. Presumably marketing began at that time. If you deduct the two models, which are marketing tools (one each for each builder), there have been 16 production homes total started in 19 weeks. I did not check to see how many "starts" belonged to each of the two builders.
As a comparison, the Lennar subdivision immediately south of Homestead was in the exact same price range ($300K and up) and they were selling one house per week. There were 49 lots and they were in and out in a year.
So......if a comparison is drawn, Homestead is not quite keeping up, even with two builders marketing their product. Frankly, I would have expected the absorption rate to be about one and a half units per week. Actually, this current selling market is stronger than the selling market that Lennar was performing in. A case could be made that experiencing a better market, two builders of Weekley's and Cambridge's quality should each be selling a house a week, or 36-38 starts. Weekley and Cambridge know how to do it.
The residential market is still very strong and Weekley and Cambridge are some of the best builders in DFW. They build good product.
So......what's different?
Don't know for sure, yet. However, the truth should come out soon. Here's the first things I'm noticing. In looking at the models, if you bought one of the models and you drive a truck or long SUV, you must park in the garage. If you don't, your vehicle will back up into the alley. A City Councilman told me the HOA was responsible for making residents park their cars at the rear of the house. What if there are visitors? This becomes an increasing problem if cars are parked on the street. There isn't room for visitors to park in the rear. If the narrow streets are to be kept open, one can not have visitors. I'm sure the fire truck drivers will have a delightful time.
Another observation was that vehicles are already "taking short cuts" over the curb lines. That means the turning radius of some of the streets are too narrow. There are tire ridges in the dirt on every corner that is now taking traffic. Another thing I noticed was that I thought Form Base Codes were to encourage walking throughout the neighborhood. Where are the residents to walk? Down the street? Down the alley?
The strict Form Base Code subdivision is an unproven product. It would be easy to believe that the Form Base Code subdivision, out in a cow pasture, is not responding to the "Oompa Bands" fan fare given it. Form Base Codes were designed for "high density" living in urban settings.........not cow pastures in more conventional Rowlett,Texas.
But......we'll see. I am pleased that some homes are selling at least at a modest rate. I was afraid that there might be a major rejection of the subdivision. That would have been an awfully embarrassing situation. On the other hand, we might be fortunate with the strong residential market we currently have. The re-sale market will determine all at a later time.
In any event, it's once again underway and the facility is certainly needed in Rowlett. The 2x4s are fresh, so we're a long way from finishing....even if there are no more mysterious delays. Say, completion in 6 months.
I drove thru Homestead Village at the same time. There are 18 houses started, including two models. Weekley and Cambridge homebuilders moved into the subdivision at the same time, about mid June. That's when the first "for sale" signs went up on the lots. Presumably marketing began at that time. If you deduct the two models, which are marketing tools (one each for each builder), there have been 16 production homes total started in 19 weeks. I did not check to see how many "starts" belonged to each of the two builders.
As a comparison, the Lennar subdivision immediately south of Homestead was in the exact same price range ($300K and up) and they were selling one house per week. There were 49 lots and they were in and out in a year.
So......if a comparison is drawn, Homestead is not quite keeping up, even with two builders marketing their product. Frankly, I would have expected the absorption rate to be about one and a half units per week. Actually, this current selling market is stronger than the selling market that Lennar was performing in. A case could be made that experiencing a better market, two builders of Weekley's and Cambridge's quality should each be selling a house a week, or 36-38 starts. Weekley and Cambridge know how to do it.
The residential market is still very strong and Weekley and Cambridge are some of the best builders in DFW. They build good product.
So......what's different?
Don't know for sure, yet. However, the truth should come out soon. Here's the first things I'm noticing. In looking at the models, if you bought one of the models and you drive a truck or long SUV, you must park in the garage. If you don't, your vehicle will back up into the alley. A City Councilman told me the HOA was responsible for making residents park their cars at the rear of the house. What if there are visitors? This becomes an increasing problem if cars are parked on the street. There isn't room for visitors to park in the rear. If the narrow streets are to be kept open, one can not have visitors. I'm sure the fire truck drivers will have a delightful time.
Another observation was that vehicles are already "taking short cuts" over the curb lines. That means the turning radius of some of the streets are too narrow. There are tire ridges in the dirt on every corner that is now taking traffic. Another thing I noticed was that I thought Form Base Codes were to encourage walking throughout the neighborhood. Where are the residents to walk? Down the street? Down the alley?
The strict Form Base Code subdivision is an unproven product. It would be easy to believe that the Form Base Code subdivision, out in a cow pasture, is not responding to the "Oompa Bands" fan fare given it. Form Base Codes were designed for "high density" living in urban settings.........not cow pastures in more conventional Rowlett,Texas.
But......we'll see. I am pleased that some homes are selling at least at a modest rate. I was afraid that there might be a major rejection of the subdivision. That would have been an awfully embarrassing situation. On the other hand, we might be fortunate with the strong residential market we currently have. The re-sale market will determine all at a later time.
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