Lost in the massive wave of new apartment construction, townhouses have made a comeback in Charlotte, with new developments popping up and selling out fast.
With housing inventory tight and prices rising fast, some buyers are turning to townhouses as a more affordable alternative to single-family houses, especially in booming areas such as Dilworth.
There are still far fewer townhouses being built than the 25,000 or so new apartments planned or underway across the meeting, but building permit figures show the number has been climbing. Mecklenburg County’s monthly report shows 302 building permits issued for townhouses as of May this year.
Compare that with 2010, in the aftermath of the recession, when there were 158 townhouse building permits issued for the same time period, and just 323 for the whole year.
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Prices at Charlotte’s townhouse developments vary widely with square footage, design and neighborhoods. Here’s how much it costs to buy at 10 developments underway now:
▪ Grandin Heights: Nine of the 14 units in the first phase, under construction at Grandin Road and West Fourth Street, are already listed as sold. The lowest-priced townhouse in that phase is a 1,924 square-foot, two-bedroom unit for $404,850. Similar townhouses in the second phase start at $395,000.
▪ Morningside Mews: Located at Morningside Drive and Lyon Court, near Central Avenue, a three-bedroom, 1,869 square-foot unit starts in the upper-$340,000 range.
▪ Bryant Park: West of uptown, this development off West Morehead Street offers three-bedroom townhouses that start in the mid-$290,000 range. That price will get you about 1,740 square feet.
▪ Waverly: Further out from the city’s center, Waverly is under construction off Providence Road, just south of I-485. A 2,056 square-foot, three-bedroom house starts at about $378,000.
▪ Avignon: Off Sharon View Road, near the Whole Foods on Fairview Road, Avignon starts at $643,990 for a three-bedroom, 2,407-square-foot townhouse.
▪ City Park: Off West Tyvola Road and on the site of the former Charlotte Coliseum, three-bedroom, 1,584 square-foot townhouses in City Park start at the upper-$230,000 range.
▪ SouthPoint at South End: Though it’s nearly completely sold out, the two remaining units at the development near Youngblood Street and Remount Road are priced starting at $524,900 for a three-bedroom, 2,119 square-foot townhouse.
▪ 1500 Kenilworth: There’s only one unit left for sale at this Dilworth project, located on Kenilworth Avenue near East Boulevard. A 1,700 square-foot, three-bedroom townhouse is listed for $472,500.
▪ SouthPark City Homes: Located on Fairview Road, at Closeburn Road, a 3,075 square-foot townhouse starts at $611,250. Twelve out of 18 have already sold.
▪ Central Living at Iverson: This 22-townhouse project is also almost sold out. A 2,319 square-foot townhouse on Iverson Way, near South Boulevard, is listed for $695,445 at this development.