New Developments Townhomes in DC/MD-max budget of $999k

[Anonymous]

Am I the only surprised by the pricing of the Rockville Town homes in OPs post? I can't imagine why people would be willing to spend 800k-$1m for a TH in Rockville when you can get a SFH for that price in Rockville (or less), or conversely, pay that amount of a TH closer into DC (for example parts of N Arlington).

[Anonymous]

Anonymous wrote:I’d go with the Reservoir District - buy a smaller unit if you have to. EYA doesn’t go into areas unless they’re going to be successful.

This!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think I have narrowed things down. It is between the Reservoir District (Bloomingdale) which will be ready in early 2025 and Brookland Grove (Brookland) which is ready now. Brookland generally seems to have less infrastructure (grocery, retail, restaurants) and lacks walkability which I am big on, whereas Bloomingdale has more/the Reservoir will be building further retail/restaurants. Not sure if it worth taking the plunge now even though I do not love the Brookland neighborhood or waiting >1 year for something (Reservoir) that may not be affordable/doable in the end; pricing could be $1.1M+ for my desired floorplan. Thoughts?

Reservoir District
https://www.reservoirdistrict.com/live

Pros
Super walkable with a grocery store and other retail, restaurants planned

Will have amenities like a pool and gym

Cons
Have to wait >1 year to move; homes will be delivered Q1'25

Pricing could be out of reach/interest rates might keep climbing. They have not officially released pricing, but some staff anticipate the bigger floor plan (2400 square feet) might be $1.1M+. This is more than I am comfortable spending.

Brookland Grove
https://www.tripointehomes.com/dc/washington-dc/brookland-grove

Pros
Can move now

Some deals are available with the builder

Comfortable with price

Cons
No walkable grocery store-- by walkable I mean 10-12 min walk

Walkability is generally lacking and is a big downgrade from where I am currently living in the suburbs. There are some fast casual places within a few minutes and I know they are opening an orange theory. If you walk a little more there are some other restaurants, but overall infrastructure seems to pale in comparison to Bloomingdale/the Reservoir development

Homes might be slightly overvalued given lack of infrastructure/cachet? Brookland homes have been sitting on the market somewhat longer than homes in other neighborhoods

May regret moving here since it just does not have the infrastructure I am seeking

No amenities within the development (e.g., clubroom, gym)

I have been weighing both, too. One thing I keep coming back to is I prefer the exterior style of the Brookland Grove homes to what EYA tends to build.

Brookland Grove



EYA community at Riggs Park

The TriPointe/Brookland exterior is definitely beautiful. Waiting for EYA/Reservoir to release pricing and delivery dates to see if going with them is doable.

EYA is not building that style in the RD. They are building their more traditional style. I vote for EYA because it is a superior product.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’d go with the Reservoir District - buy a smaller unit if you have to. EYA doesn’t go into areas unless they’re going to be successful.

This!

I think the pricing is pretty outrageous for the Reservoir District
$799k+ for 1480 square feet
$899k+ for 1690 square feet
$1.15M for 2370

I don’t want to be in a home smaller than 2100 square feet. So, I guess I’ll pass, as $1.15M is out of my budget.

[Anonymous]

Any thoughts on this project by EYA?

https://www.eya.com/townhomes/rockville-md/farmstead-district

What's the catch with this place? Seems to be close to a metro (red line Shady Grove), close to shops and fairly affordable price per sqft.

Is the catch that the schools suck? Far from things? Maryland tax?

Looking at this place as someone who is renting a TH in Fairfax and works in Falls Church City.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’d go with the Reservoir District - buy a smaller unit if you have to. EYA doesn’t go into areas unless they’re going to be successful.

This!

I think the pricing is pretty outrageous for the Reservoir District
$799k+ for 1480 square feet
$899k+ for 1690 square feet
$1.15M for 2370

I don’t want to be in a home smaller than 2100 square feet. So, I guess I’ll pass, as $1.15M is out of my budget.

Agreed the pricing is ridiculous, 800k for 1500sq ft and 900k for 1690sq feet is very steep, especially for that area of the city. Wonder what they are including as part of the Sq ft because the 1690 one feels fairly small based on the 3d view, so wonder if they included the garage as well (theoretically no but they do say interior Sq ft rather than finished so who knows)

Hell at the 1.2m for 2300sq feet and 1.5m for their largest one, seems steep for that area. At those prices (the later two especially) don't see why someone would choose to buy and live in that area over say Georgetown, Admo, and other parts of the Wotp, or live in N Arlington or Bethesda (again talking about their largest two which are between 1.2 and 1.5m) unless it's a commute consideration (ie they work in that area).

[Anonymous]

Anonymous wrote:Am I the only surprised by the pricing of the Rockville Town homes in OPs post? I can't imagine why people would be willing to spend 800k-$1m for a TH in Rockville when you can get a SFH for that price in Rockville (or less), or conversely, pay that amount of a TH closer into DC (for example parts of N Arlington).

I am always surprised too, but my mom loves townhouses. They cater to a specific niche of people who want a luxury new unit and don't want to deal with the maintenance of SFH especially older ones. They're also more often in walkable clusters.

[Anonymous]

The Townes at Grosvenor-North Bethesda; builder is Madison Homes; start at $999k
https://www.livegrosvenorplace.com/

[Anonymous]

Anonymous wrote:Any thoughts on this project by EYA?

https://www.eya.com/townhomes/rockville-md/farmstead-district

What's the catch with this place? Seems to be close to a metro (red line Shady Grove), close to shops and fairly affordable price per sqft.

Is the catch that the schools suck? Far from things? Maryland tax?

Looking at this place as someone who is renting a TH in Fairfax and works in Falls Church City.

It’s close to the Shady Grove station, yes, but it’s also close to the waste transfer station so sometimes that area smells. Schools are okay, feeds to Gaithersburg high, less good than RMHS

All in, it does seem a steep price for new townhouses in that area of Rockville. But I think that area has potential. And king farm is next to it, it’s a nice area, but it cancels out by being close to shady grove rd, a busy street.

Also, I don’t recommend you live off the shady grove station if you work in FCC…commute would be terrible

[Anonymous]

Not a huge fan of the Townes location in NB since it is not walkable to anything (except Metro). The better neighborhoods are a mile north near pike and rose, Whole Foods, etc. similar pricing but not new builds - it is older construction with more SF.

North Bethesda will appreciate in 10 years due to all the planned development.

Overall though I think your focus on new builds is taking you away from figuring out what will be the best neighborhood for you within your budget.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Any thoughts on this project by EYA?

https://www.eya.com/townhomes/rockville-md/farmstead-district

What's the catch with this place? Seems to be close to a metro (red line Shady Grove), close to shops and fairly affordable price per sqft.

Is the catch that the schools suck? Far from things? Maryland tax?

Looking at this place as someone who is renting a TH in Fairfax and works in Falls Church City.

It’s close to the Shady Grove station, yes, but it’s also close to the waste transfer station so sometimes that area smells. Schools are okay, feeds to Gaithersburg high, less good than RMHS

All in, it does seem a steep price for new townhouses in that area of Rockville. But I think that area has potential. And king farm is next to it, it’s a nice area, but it cancels out by being close to shady grove rd, a busy street.

Also, I don’t recommend you live off the shady grove station if you work in FCC…commute would be terrible

I wouldn't use the metro, I would drive. Google says about 30 minute commute each way, or is traffic horrible?

[Anonymous]

^270 is generally fine. The American Legion bridge on 495 can get clogged sometimes. And 495 is…495. I don’t doubt you can do it in 30 min, but you might be at the mercy of traffic depending on the time of day. Unless you got good reasons to be in Rockville, why not look on the Virginia side

[Anonymous]

Anonymous wrote:^270 is generally fine. The American Legion bridge on 495 can get clogged sometimes. And 495 is…495. I don’t doubt you can do it in 30 min, but you might be at the mercy of traffic depending on the time of day. Unless you got good reasons to be in Rockville, why not look on the Virginia side

New construction near metro is either very expensive or non-existent.

[Anonymous]

^fair point. If that’s a preference I agree.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’d go with the Reservoir District - buy a smaller unit if you have to. EYA doesn’t go into areas unless they’re going to be successful.

This!

I think the pricing is pretty outrageous for the Reservoir District
$799k+ for 1480 square feet
$899k+ for 1690 square feet
$1.15M for 2370

I don’t want to be in a home smaller than 2100 square feet. So, I guess I’ll pass, as $1.15M is out of my budget.

Agreed the pricing is ridiculous, 800k for 1500sq ft and 900k for 1690sq feet is very steep, especially for that area of the city. Wonder what they are including as part of the Sq ft because the 1690 one feels fairly small based on the 3d view, so wonder if they included the garage as well (theoretically no but they do say interior Sq ft rather than finished so who knows)

Hell at the 1.2m for 2300sq feet and 1.5m for their largest one, seems steep for that area. At those prices (the later two especially) don't see why someone would choose to buy and live in that area over say Georgetown, Admo, and other parts of the Wotp, or live in N Arlington or Bethesda (again talking about their largest two which are between 1.2 and 1.5m) unless it's a commute consideration (ie they work in that area).

You can't get anything relatively updated in those neighborhoods for 1.2M. The location is great. I think it will draw lots of doctors and folks affiliated with the hospitals. The location will have great amenities. It also has a suburban feel.

People who are interested in those are not interested in Bethesda.