The meaning of words and phrases can evolve through time, and that性视界传媒檚 true for the housing market, too. The term 性视界传媒渕ulti-family housing性视界传媒 generally has applied to apartment complexes and similar structures.
性视界传媒淲hat we consider multi-family, that whole landscape dynamic is shifting,性视界传媒 said Michael Shirley, the city of Longview性视界传媒檚 director of Development Services. 性视界传媒淚t性视界传媒檚 no longer going to be focusing on what that traditional multi-family is, which is that multi-building, vertical complex. It性视界传媒檚 going to be getting into those non-traditional, which are truly more of a single-family 性视界传媒 the duplex, the townhome 性视界传媒 to help fill those gaps.性视界传媒
And that, Shirley said, is likely where Longview can expect housing growth in the future. Home buyers with families increasingly seek to buy smaller homes so that they have less to maintain and because of the cost. Meanwhile, developers are seeking to increase the number of homes they build on a given piece of land because property and development costs are high. The more homes on a piece of property (called density), the greater their return on investment is.
It性视界传媒檚 a win-win: Buyers get a smaller and less expensive place to live, and developers can build more of them.
性视界传媒淭he lot costs are so expensive,性视界传媒 Shirley said. 性视界传媒淵ou性视界传媒檙e talking about $50,000-plus now for a lot. Well, you divide that into two, and you put a duplex or a townhome on it, you spread that development cost over more dwelling units, and people are wanting less maintenance. So, I think that性视界传媒檚 where that push is going to be.性视界传媒
Redefining multi-family
Think about the American dream of home ownership. For years, it was the so-called ranch-style home: a 2,000-or-so-square-foot home on a 7,000-or-so-square-foot lot. Now, many buyers seek a little bit less 性视界传媒 not as little as an apartment offers but not as much as their parents might have wanted.
There性视界传媒檚 a middle ground: the duplex or townhome.
性视界传媒淧eople still want the same amenities in their house, same price point as far as per square footage, but maybe not the same overall square footage 性视界传媒 smaller lots, smaller maintenance,性视界传媒 Shirley said.
Meanwhile, developers are looking to maximize space. Longview性视界传媒檚 city limits aren性视界传媒檛 expanding, so housing growth in the city will require making the most of what space there is to offer. And greater density 性视界传媒 more dwelling places on a given lot 性视界传媒 could be the answer. One goal of the city性视界传媒檚 new comprehensive plan is to allow for more zoning flexibility that would allow for more density.
性视界传媒淒ensity and townhomes and all are not a bad word,性视界传媒 Shirley said. 性视界传媒淭hat doesn性视界传媒檛 necessarily mean that that性视界传媒檚 going to allow for more multi-family 性视界传媒 what I would consider the more traditional vertical multi-family project 性视界传媒 but the kind of the missing middle being the townhomes and garden homes where you性视界传媒檙e still an independent dwelling unit, just on a smaller footprint.性视界传媒
There is, however, a balancing act, because property owners still want amenities, space and things such as pocket parks.
性视界传媒淲e don性视界传媒檛 want to just go in there and maximize density,性视界传媒 Shirley said. 性视界传媒淪o, really, when you look at the overall property, the density is not as dense as you would think it is. It性视界传媒檚 not a traditional multi-family density. It just allows more flexibility.性视界传媒
Shirley anticipates that up to 250 townhomes and 110 duplexes will be built in Longview in the next five to seven years.
Reich Builders, a family-owned firm, is developing the $24 million Page Valley Townhome project. Co-owner Austin Reich said the company is in the first of three phases of construction. All said and done, the project will have 46 buildings, providing 92 individual townhomes. Reich said he expects the project will take about eight years to complete.
性视界传媒淲e have seen good, good demand as far as people want to move in there,性视界传媒 Reich said. 性视界传媒淧eople love the product that we性视界传媒檙e putting out. So they just love the area, just love everything about it. So, it is going well, but it still is really challenging, since the cost is so high for everything.性视界传媒
A variety of configurations are offered to meet buyers性视界传媒 wants: two-bedroom, two-bathroom; three-bedroom, two-bathroom; and four-bedroom, two-bathroom. All townhomes have a two-car garage.
The townhomes are being built with energy efficiency in mind. They性视界传媒檒l meet the guidelines set forth by the Southwestern Electric Power Co.性视界传媒檚 home certification program, which are designed to help reduce energy usage by as much as 30%.
Reich decided to build townhomes rather than a traditional apartment building because he thought townhomes will fit in better with surrounding homes.
Being from the area, Reich said he believes townhomes will be the right solution for families looking to come to the city.
性视界传媒淧eople are moving to Longview,性视界传媒 he said.
Apartments still coming up
While future growth might be concentrated in duplexes and townhomes, apartments will still play a role in meeting Longview性视界传媒檚 housing needs.
The construction of apartments is cyclical, Shirley said. Some years have more construction than others.
性视界传媒淲e性视界传媒檙e not like the metroplex, where you性视界传媒檝e got an abundance of stuff going on at any given time, where you性视界传媒檝e got a bunch of apartment complexes being constructed,性视界传媒 Shirley said.
Nevertheless, Shirley said he doesn性视界传媒檛 see construction on traditional apartment complexes 性视界传媒渟lowing down性视界传媒 or 性视界传媒渇alling off.性视界传媒
性视界传媒淲hen you talk about our housing needs, we have needs in all sectors, in all income levels, in all categories, whether it be for rent, for sale, traditional brick-and-mortar single family versus the multi-family,性视界传媒 Shirley said.
A few apartment complex construction projects are underway in Longview. The largest, Shirley said, is the construction of The Residences at Toler on Toler Road. The 144-unit apartment complex consists of 12 buildings with one-, two- and three-bedroom apartments.
Tenants began moving into the apartment complex in August, and some buildings remain under construction.
The Winslow family 性视界传媒 father Gordon, mother April, daughter Kate and sons Gray and Gavin 性视界传媒 were one of the complex性视界传媒檚 first tenants moving from Center. Gordon Winslow is a pastor at Calvary Tabernacle Church on Hawkins Parkway.
For their first seven weeks in Longview, the family resided at Staybridge Suites. They were interested in moving into The Residences, but the apartments weren性视界传媒檛 ready yet. They considered renting homes or other apartments, but The Residences beckoned to them.
性视界传媒淲e looked around at some other options, because we didn性视界传媒檛 want to have to wait and stay at the Staybridge that long,性视界传媒 April Winslow said. 性视界传媒淏ut nothing really was what we were looking for. So, we just decided to hold out and wait for this one to be ready.性视界传媒
The family liked the price range The Residences offered. Rent ranges from $1,200 to $1,600 per month. They also found that many apartments they looked at were 性视界传媒渁vailable one minute and gone the market the next,性视界传媒 April Winslow said.
They like the amenities the apartment offers: its modern look and feel, modern appliances (including a washer and dryer in the apartment), pool, gym and fiber-optic internet.
性视界传媒淚性视界传媒檝e been to other apartments before, and I definitely feel like this one feels more close to a normal home,性视界传媒 son Gray Winslow said. 性视界传媒淚t just seems more welcoming than like a normal apartment.性视界传媒
Analyzing future needs
Texas性视界传媒 population continues to grow, partly because of the number of people moving in from out-of-state. Annexation laws have been modified and restricted cities性视界传媒 abilities to expand their domain.
Those changes mean economic development leaders will need to take a 性视界传媒渃loser look性视界传媒 at the supply of housing options moving forward, Shirley said.
性视界传媒淲e do have to pay a little more attention and help make sure that our regulatory policies are in line to help promote those,性视界传媒 he said.
Community and economic development organizations could conduct studies to learn more about the city性视界传媒檚 future housing needs and be more proactive.