Townhome Construction Surges in America

HOUSTON – (Realty News Report) – A major rebound in townhouse construction is underway across the nation as buyers seek options as home prices surge and mortgage rates are rising.

The National Association of Home Builders says 152,000 townhouse construction starts were recorded in the last four quarters, up 25 percent from the prior four quarters.

“The long-run prospects for townhouse construction remain positive given growing numbers of homebuyers looking for medium-density residential neighborhoods, such as urban villages that offer walkable environments and other amenities,” Rob Dietz, NAHB chief economist said in a recent NAHB report. “This will be particularly true for prospective first-time buyers in high cost metro areas.”

In Houston, Highland Homes just announced it will build townhomes in the Towne Lake community.

Sizes range from 2,060 to 2,138 SF, and prices start in the mid $400,000s.

“Dallas-Fort Worth was our test market for these floorplan designs, and they did very well,” said Aaron Graham, President of Highland Homes. “With the significant demand we are seeing in the Houston area, the time was right to expand our offerings in this market.”

High ceilings are a standout feature of each of the designs, Graham said, giving the townhomes aa sense of openness. Each of the floorplans has two-story family rooms and ample windows for natural light. Each also has side or back patios for outdoor gathering.

“Every inch of the floorplan is maximized for the utmost livability,” said Gonzalo Romero, Vice President of Architectural Services for Highland Homes.

Highland is offering two series of floorplans in Towne Lake. The Cottages Series features four two-story designs, each with three bedrooms, 2.5 baths and front-facing two-car garages.

The Villas Series also features four floor plans, with sizes ranging from 1,761 to 2,297 SF. Priced from the upper $500,000s, the designs have three bedrooms, 2.5 baths and an upstairs loft. They each have two-car alley-loaded rear garages.

These are the first designs Highland has offered in Towne Lake. Later this month, Highland Homes will introduce townhomes to a second Cypress community — Bridgeland. The City Series by Highland Homes will be offered in Bridgeland Central, the community’s planned mixed-use urban core. The homes will feature eclectic modern elevations that will be exclusive to Bridgeland. Interiors will range from 1,761 to 2,297 SF with a mix of front and rear garages. Pricing will be from the high $400,000s.

“We expect both of these neighborhoods to be a draw for those looking for a lock-and-leave lifestyle that is further enhanced by award-winning amenities and health and wellness benefits,” Graham said.

Home prices have increased significantly across the nation and the multi-level townhouses deliver lower-cost options without the expense of large lots and full-size lawns.

File: Townhome Construction Surges in America

Rendering: Courtesy Highland Homes