Woodbridge Estates adding 54 townhouse condos

Woodbridge Estates has been in the rental apartment and for-sale single-family home market for about a year, and now is adding townhouse condominiums.

The townhouses will range from 1,200 to 1,900 square feet and are priced from $179,900 to $274,000. Todd Craft, community sales manager for the project, says 54 townhouses will be constructed, and sales reservations are being accepted.

“This is a new product for us, but the single-family houses have really been moving,” Craft says, noting that two single-family houses sold in the month of January despite a turn-of the-year price increase.

Of the 47 single-family houses being planned for Woodbridge Estates, 29 have sold. 35 of the houses are 3 to 5 bedrooms and sell for $260,000 to $340,000; the remainder are for income-qualified purchasers. These 2- and 3- bedroom models receive a forgivable (after seven years of residence) down payment loan from Hope VI and are sold for $190,000 and $200,00; 25 of the condo units will offer the same down payment incentives to qualified buyers.

The 118 rental apartments at Woodbridge Estates are completely occupied, and there are an additional 166 units under construction. “Our waiting list for the new apartments is 70 percent full,” Craft says.

Woodbridge Estates employs traditional neighborhood design so that when this project is complete, “we can build this model in the nearby community without disrupting the neighborhood,” he says. The design utilizes cut stone above the windows, a height of 38 feet that is common in neighboring Woodbridge and rear-access garages. “We really see this project as one that will make the connection between Corktown, Woodbridge and Midtown a more walkable one.”

Source: Todd Craft, community sales manager, Woodbridge Estates