Cedar Crest Townhome Update 4/6/20

Siding, Framing, and Social Distancing

If you haven’t taken a drive down Waterford Court lately, I encourage you to stop by and take a peek (while staying in your car at a safe distance).

  • How is COVID-19 impacting the expansion?
    • Money committed for pre-construction entrance fee is fully refundable, so people building with us have confidence that if the market doesn’t recover, they can cancel without penalty (only money committed for upgrades is non-refundable).
    • The crews working on the expansion fall in the bucket of “essential” so work continues for them.
    • We are currently unable to do any tours or face to face meetings, but there are still plenty of ways to contact us.
  • Construction Update:
    • 1966 Waterford: This is the green building that you see pictured.  The single family ranch is currently being sided, and cabinets will be installed next week.
    • 1977-1979 Waterford: The crew started framing the home this week and you can see them in action in the picture.
    • 1957-1959 Waterford:  We don’t have an exact date for when the foundation work will start on this, but hope to have one soon.
  • Pricing:
    • Pricing for our new Townhomes includes the cost of construction and appliances.  We do not factor in the value of the land in the pricing, so you are able to get a home that would cost more in the open market.  Our entrance fees for the new units are currently $290k-$400k.  Entrance fees are 85% refundable on all homes.  Monthly fees are $775, and property taxes are TBD.  When you build with Cedar Crest, 10% of the entrance fee is due at the time of commitment, an additional 20% is due when the unit is halfway complete, and the remaining 70% is due when the unit is ready for occupancy.
  • Available Units:
    • Of the 5 units that we are currently building, 2 are still available
      • 1966 Waterford: $400,000
        • Single family ranch
        • 1895 square feet,
        • 2 bedrooms + den, 2 baths, 2 car garage
        • Fireplace, screened porch, deck, quartz counters
      • 1977 Waterford: $345,000
        • 1790 square feet
        • 2 bedrooms, 2 baths
        • Bay window
        • Screened porch
  • Other homes:  We are currently working on pricing for another unit that will have a 1400 and 1600 square foot side.  Our plan is to build more units as we get commitments from people during the pre-sale process.
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