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Only one townhome sold in Village development

October 25th, 2008 · 46 Comments

The new townhomes in the Magnolia Village are nearing completion but so far it appears only one has been sold.  The 15 townhomes are on the market for $1,200,000.  Back in August we reported that developer and Magnolia resident Tim McHugh was nervous about the market and as we all know economic conditions have not improved since then. 

Recent reports indicated that home sales actually were up in September even though prices were down. 

The townhomes located across the street from Bartells in The Village feature three bedrooms, four bathrooms and private elevators.  They were featured in a tour of new construction in Magnolia last month but it seems none of the units have sold in the past two months. 

No word on an official opening date for the townhomes.

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  • Mcs

    Well, they’re pretty dang ugly, for starters.

  • http://na JMH

    I agree with Mcs. They seem to be designed to maximize financial return. They are an aestethic disaster for the village.

  • Bella

    I am afraid we are going to have a giant overpriced wasteland in the middle of the village. Who is going to buy these? Will they just sit there empty if they dont sell?

  • Robert

    The one good thing from the housing market coming back to reality is that these greeders contractors are now getting a taste of this reality check from all the profits they were making and beefing up all these prices because of the high demand. Its like those gas stations outside of Louisiana increasing their gas prices three fold after Katrina because of the high demand, its nice to see what comes around, goes around. I hope that they take a long, long, long, long time to sell!

  • vanderleun

    Crap. Pure and simple.

  • doug

    compared to the faux-Craftsman townhomes all over the city, these are actually done very well. My guess is that the above folks hate most development at all. A “giant overpriced wasteland”? Compared to the crap filled parking lot we used to enjoy?

    Why not ask the local merchants what they think? My guess is that they’ll welcome more close customers, since so many don’t support the village.

    Overpriced? No, just not in your (or my) price range. They were built and priced for folks that can spend that kind of money, and want to stay (or move to) our neighborhood. These guys have done a good job with a tough site.

    You want to yell at a developer, how about the jerk trying to upzone the old house next to Bartells. That’s a better place to vent…

  • Michelle

    I am not anti developer but I am anti unattractive and overpriced townhomes that are going to be sitting empty in the middle of Magnolia.

    It just seems like they could have put something in there that was more attractive since it sits right in the core of our main village.

    Townhomes dont have to be ugly. I think those condos over by the tennis courts are much nicer looking than these and they seem to fit into the neighborhood better.

    Seems like this developer was way too optimistic about demand for these. I wonder how long till the price comes down?

  • http://na JMH

    Doug, you make some good points, but you have to admit they don’t fit the feel of the village at all. Neither does that giant house behind the gas station.

    On the other hand, the Starbucks building and the condos behind Starbucks both integrated nicely with the village. Whereas these Carlton Park townhomes just don’t fit within the context of the village. They are too tall and unfortunatly they sit at a ‘gateway’ to the village. What an ugly front for people to see as they drive in. Look at the photo in the article!

  • Val

    Definitely ugly. Not enough different surface textures for their size, not enough depth, and the color palette has serious problems. And way too tall – they loom. Maybe the looming wouldn’t be so bad if they looked halfway decent. If there’s something about them that makes them worth $1.2 million (the elevator doesn’t), I have no idea what it is. Get a bigger house on it’s own lot for less money.

    By the way, one unit was sold before it was built – well, not sold. But as part of the deal for the developer to buy the property, the former owner gets the extra tall unit on the west end. So it might really be 0 units sold.

  • greg walker

    Hey folks, all construction sites look terrible while being constructed. For those that don’t know, the developer had to deal with 2 items out of his control-a restriction in the original deed not allowing condominiums and the neighborhood commercial zoning. The project is nearing completion and the extensive landscaping will start appearing on site soon. Almost no one has been allowed inside but that will change around mid january when the 1st open houses will be held. I will be marketing the homes along with David Medina and would be happy to answer any questions via phone 206/948-6531 or email at gvwinc@nullwindermere.com. By the way these homes are permitted and designed for home offices on the first floor with separate entrances for the office and the residence.

  • AJ23

    What a joke….$1.2 mil???? Buy a waterview house on the blvd or somewhere on the west side on Magnolia. I wouldn't pay more that $275k to $300k for these things….who are they kidding? Prime real estate in the heart of the village…your neighbors are Bartells, 76 Gas, Hairmasters, and Hollywood Video….sweet! You can get a real nice Magnolia house with a huge lot for half the price of these townhomes. They'll sit for years….good luck to who ever is trying to move these.

  • AJ23

    What a joke….$1.2 mil???? Buy a waterview house on the blvd or somewhere on the west side on Magnolia. I wouldn't pay more that $275k to $300k for these things….who are they kidding? Prime real estate in the heart of the village…your neighbors are Bartells, 76 Gas, Hairmasters, and Hollywood Video….sweet! You can get a real nice Magnolia house with a huge lot for half the price of these townhomes. They'll sit for years….good luck to who ever is trying to move these.

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