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LOC <br />CONSULTING <br />Market Analysis for Downtown Redevelopment <br />City of Centerville Economic Development Authority <br />April 3, 2023 <br />Side by side townhomes in Watermark development <br />■ The asking prices per square foot are $601 to <br />$734. Units range in size from 1,323 to 3,841. <br />■ The association fee ranges from about $522 to <br />$1,169 per month and includes building <br />maintenance, insurance, lawncare, and snow <br />removal. <br />Finishes in the units are targeted to a higher - <br />income buyer. Community amenities include <br />connection to the trail system, parks, tennis <br />courts, patio, fitness center, party room, and <br />underground heated parking. <br />Attached Townhomes <br />Three attached townhome projects are profiled <br />with a total of 228 units. <br />This type of product is targeted to more price <br />sensitive homebuyers, primarily younger buyers. <br />The units often have primary suites on the second <br />level, which makes them less appealing to older, <br />more affluent buyers. <br />The primary two types of attached townhome <br />units offered are quad units with four units per <br />building and side -by -side units. Side -by -side units <br />typically offer more space and are priced higher <br />than quad units. <br />■ These units typically have two or three bedrooms, <br />although some of the units offer optional <br />bedrooms that can be added prior to <br />construction. <br />■ The side -by -side units marketed at Headwaters <br />Place are slightly different. These units are single - <br />level duplexes that typically compete with <br />detached townhomes and are marketed to move - <br />up and empty nester buyers. <br />■ Units range in size from 1,583- to 1,906-square <br />feet. <br />■ The profiled attached townhomes range from <br />$339,990 to $459,900. Price per square foot <br />ranges from $190 to $266. <br />■ Finishes for the attached townhomes marketing <br />tend to be more modest. Some of the <br />developments provide community space for the <br />larger overall development, which typically <br />includes single-family homes and detached <br />townhomes. <br />The association fee for these developments <br />typically ranges from about $200 to $300 per <br />month and includes insurance, lawncare, and <br />snow removal. <br />Page 44 <br />