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A new townhome project is coming to Dilworth this summer with pre-sales starting this week, underscoring the condo market’s increasing embrace of smaller projects rather than high-rises.
The Cottages on Euclid will feature 19 New England-style one- and two-bedroom townhomes offering a garage, front porch and rear patio.
The project, located off Euclid Avenue between McDonald and East Tremont avenues, is being developed by Wendy Field, a former real estate executive with Bank of America and a real estate consultant.
Field originally planned to build a mid-rise condo project on the roughly one-acre site, but shelved those plans as the condo market crumbled with the economy in the late 2000s. In the center city, at least two high-rise condo projects turned to rentals. Another, the Vue, was sold last week in a foreclosure auction.
Field decided to build a smaller community, what she describes as “a pocket neighborhood.”
“We overbuilt the highrise, the midrise, the generic product that you take an elevator up to,” she said. “(Smaller) appeals to people in this down economy. People want to feel like they can nest.”
“I started thinking about what was missing in Charlotte,” Field said. “There’s a lot of people who want to (live in) one of 19 units, not one of 100 or 400.”
Read more here: Development: New townhomes coming to Dilworth