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Page 2 of 7 • Single-family homes targeted towards families with school-age children will be a desired product. Lots that are large enough for front-loaded garages will be predominant. • Private developers feel the Creek neighborhood is most suitable for upscale, large-lot single family and twin homes targeted towards families and empty nesters. Density would be in the range of 1 ½ to 2 units per acre. • Developers see the Hill neighborhood as largely single-family homes on lots of at least 50 feet. According to Mattamy Homes, a 65x65 foot lot is their best seller which equates to a density of 3 units per acre. Townhomes and Row Homes • Townhomes or row homes are usually developed as 3- or 4-unit buildings since the end units are most popular. Detached townhomes are generally around 5 or 6 units per acre. Row homes can be built at up to 10 units per acre. Developers suggested that an average of 7 to 8 units per acre for townhome products is reasonable. • Townhomes are most likely to be developed in the neighborhood transition area, but the market could also support a limited number of townhomes in the Hill or Creek neighborhoods. Senior Housing, Apartments, and Condominiums • Senior housing and apartment buildings need 150-250 units per building in order to support the common areas and amenities desired by the market. Apartment buildings would likely be 4 stories of apartments (3-5 acre parcels) above one story of underground or enclosed parking. • Senior housing and apartment development wants to be located close to goods and services. Density in new senior and apartment developments averages approximately 40 units per acre. • The demographics of renters have changed over the past 20 years. Today’s renters want high-end finishes and amenities – essentially a condominium-type product but without ownership. • Mixed-use residential has not been successful in suburban markets. Developers felt that requiring commercial readiness standards on the first floor of pedestrian-oriented frontages would be a financial burden and a disincentive for development. • Developers want a 10-year payback period for any “green” upgrades. Most energy savings are being realized through technological advances in construction and building materials. • Condominiums are only currently being built in very selective areas and are usually very high-end. In order for the developer to get construction financing, 70% of the units must be sold. • As the market improves, there may be limited demand for upscale condominium units in buildings of approximately 50 units. Developers cautioned that there is limited and untested demand for this product type – maybe a maximum of one or two buildings in the Neighborhood Transition area in a location near both retail and open space. In nearly every conversation, developers have stressed the need for flexibility to respond to changes in market demand and to allow for innovation and creativity in development style.