Who is the target population for these (townhomes near Grosvenor)?
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Anonymous
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https://www.livegrosvenorplace.com/
I live close enough that I drive by fairly often, and every single time I wonder who would pay $1M for a townhouse overlooking 270? They are practically ON 270. Who is the target population- families, retirees, etc? I know the market is hot now, but I have a hard time believing that these will actually sell. Just curious what others think. |
Anonymous
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I live in a SFH nearby, and because most of the land is already in use (either SFHs, or retail), all that is left is infill. It is all over the area (have you been by Home Depot recently?)
The target audience? Maybe a family that wants to get into a good school system always easy commute to DC? Or maybe those who have retired but like the neighborhood and don't want to deal with the yard, the snow, etc. anymore? |
Anonymous
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They have elevators, so maybe retirees?
I agree, though, I lived at the 10301 apartments (on a high floor) and the noise from 270, especially late at night from trucks/motorcycles, was unbearable. And these are much closer. They don't even look nice or well built. If I was looking to spend $1m+ on a townhouse in that area I'd be looking at the ones on the corner of Strathmore. |
Anonymous
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New construction, no worries about a 15-year-old boiler breaking, and move-in ready?
High-income families new to the area or on rotation for one. |
Anonymous
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You'd be surprised. People are paying $900k+ for elevator townhomes (built a couple of years ago) that back into Wheaton Mall and are zoned for Einstein (we just bought a house zoned for Einstein and plan to send out child there, have nothing against it but many people think it's the end of the world to send your child there). Lots of the new townhouse communities are next to big highways. In Bradford's Landing up in Norbeck and people have been paying up to $660k to live right next to the ICC and zoned for Rockville High, not remotely walkable to metro. People are paying $650+ to buy the old, small townhomes just north of the new Grosvenor ones. My friend lives in one of those that is right next to 270 and I honestly didn't notice the noise until after we started house hunting and were used to looking out for these things.
Some people really want new construction and don't mind the noise. People will also pay a big premium for Walter Johnson HS. They probably have good windows so the noise is the only really an issue when you are outside or open the windows. I would not live there but my DH would, for the right house in the neighborhood he wanted. |
Anonymous
| If you look at the site map, half are sold out already. Those ths are bigger than some SFH in the area, so it makes sense. |
Anonymous
| I thought this about the new townhouses near me that are $1M and right next to the Beltway but they’re almost all sold. |
Anonymous
| Those 4 level townhouses sell like hotcakes. Especially the ones with an elevator. They’re great for when you have guests over who want their own space. |
Anonymous
| Childfree and retirees |
Anonymous
| What about the ones near Loehman's Plaza? or are these the ones? |
Anonymous
| I wouldn't do it because of air quality and noise concerns, but if the property is well-built, these issues can be mitigated. And some people actually value the proximity to transit. |
Anonymous
| Families who want good schools, easy public transportation commute downtown and new builds. There is very little new construction in that part of Montgomery County. |
Anonymous
| Lots of people want brand new construction and a decent school district and will pay for it. |
Anonymous
Those aren’t that close to 270, and I am pretty sure no elevators. I wonder who is paying that for a small TH with so many stairs, but I think there is always a strong desire for new. There is a certain demographic that thinks it is gross to live somewhere that another person once bathed. |
Anonymous
| I agree with you. I went and toured and they are not well built at all. |