Today’s Housing Market News – July 10, 2024

Welcome to today’s roundup of real estate news, where we delve into the latest developments in housing and construction across various regions. From Santa Cruz County’s major infrastructure projects to Las Vegas’ booming home sales and Henry County’s debate on impact fees, we cover the critical issues shaping our communities. Discover how organizations like Kennett Area Community Service are expanding to meet growing needs, and learn about the innovative residential projects by Thompson Thrift and Drees Homes that are setting new standards in living spaces. Whether you’re interested in the economic impacts of housing or the latest in smart home technology, our coverage provides insightful updates that keep you informed and engaged. Dive into the full stories to explore how these developments affect both the market and local communities.

Housing and Construction Projects in Santa Cruz County – Santa Cruz Local

Stay up to date on major housing and construction projects across Santa Cruz County and find out how to make your voice heard. Explore the latest developments in water and highway projects that are shaping the future of the county. Whether you’re interested in affordable housing initiatives or infrastructure improvements, we have all the information you need. Discover how you can get involved and make a difference in your community.

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Builders Post Strong May Home Sales Numbers | Las Vegas Business Press

Las Vegas builders reported their strongest May in home sales since prior to the pandemic, setting the stage for their second-best year since 2020. With 1,273 new home net sales in May, surpassing previous years, the market is showing resilience despite rising interest rates. The total number of new home net sales through June has increased by 27% compared to the same period last year. Builders continue to take out permits and introduce new projects, indicating sustained growth in the housing market. Despite challenges, the conversion rate from buyer traffic to sales remains historically strong, reflecting buyer demand and confidence in the market. Discover more about the latest trends and developments in Las Vegas’ thriving home construction industry.

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Should Builders Pay More in Impact Fees? Hearings This Month

Henry County is considering an increase in its development impact fees, with the last change to the fee structure made in 2022. Impact fees are currently charged to new construction in unincorporated areas of the county. The proposed increase aims to address the costs associated with new development and ensure that builders contribute their fair share. Stay informed about the upcoming hearings this month and learn more about the potential impact on builders and the community.

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Kennett Square Life: Kennett Area Community Service: A New Home, a New Vision | Chester County Press

Throughout the COVID-19 pandemic, Kennett Area Community Service (KACS) has been providing crucial support to the community, offering food, housing, and social services to those in need. As the demand for assistance continues to grow, KACS is embarking on a capital campaign to raise $15 million for the construction of a new facility. The proposed 24,000 square-foot building will address the limitations of the current location and enable KACS to better serve the community.

In an interview with KACS Executive Director Leah Reynolds and volunteers Anne Moran, Lynn Majarian, and Will Majarian, the project’s early benefactors, the improvements brought by the new building were discussed, along with the campaign’s message and future aspirations. The partnership between KACS and the Pia family, who generously contributed funds and land for the new facility, was also highlighted.

The new facility’s design and layout have been carefully considered to ensure it supports KACS’ mission effectively. Local contractors and firms have been engaged for the planning, design, and construction of the building, further strengthening the community’s involvement in the project.

While state and county funding will cover a significant portion of the construction costs, a capital campaign aims to raise an additional $6 million from foundations, corporations, and private donors. The campaign emphasizes the impact of KACS’ work on the entire community and invites everyone to contribute to this meaningful cause.

The anticipated opening of KACS’ new home is expected to be in the first half of 2026, following the completion of the building process. The vision for the fully functioning agency includes collaborative partnerships with other organizations, expanded resources, and comprehensive support for families and households in need.

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Home Builders Association of Kentucky Releases New Study, Shows Impact of Housing on Kentuckians

A new report from the Kentucky Chamber Center for Policy and Research, in collaboration with the Home Builders Association, highlights the significant impact of housing on residents across the state. The report emphasizes the importance of safe housing year-round and its correlation with economic growth, homelessness, and workforce development in Kentucky.

The study underscores the need for state and local leaders to prioritize overcoming housing challenges to ensure sustainable growth. Increasing housing availability and promoting home building throughout the Commonwealth are crucial for positioning Kentucky for future success.

For more details and key findings from the study, read the full article.

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Thompson Thrift to Develop 344-Unit Luxury Multifamily Community in Fort Collins – Boulder Daily Camera

Thompson Thrift, a nationally recognized real estate company and leading multifamily developer, has announced plans to develop The Landing at Lemay, a 344-unit Class A multifamily community in Fort Collins. Construction is set to begin in July, with the first residents expected to move in by late 2025.

The Landing at Lemay will offer one-, two-, and three-bedroom apartment homes featuring modern amenities such as stainless steel appliances, hardwood-style flooring, smart home capabilities, and full-sized washers and dryers. The community will also provide exceptional amenities including a fitness center, resort-style swimming pool, fire pits, billiards and shuffleboard area, dog park, and more.

Notably, this development will be Thompson Thrift’s first community in the West to incorporate carriage homes with attached private garages. It will also feature large-scale electric vehicle charging capabilities, aligning with Colorado’s commitment to increasing the adoption of electric vehicles.

Strategically located just one mile from downtown Fort Collins, The Landing at Lemay offers convenient access to shops, restaurants, breweries, and major retail centers. Fort Collins, ranked as the “Number One Place to Live in America in 2020,” continues to experience rapid growth and is expected to add over 15,000 residents in the next five years.

Thompson Thrift’s investment in The Landing at Lemay reflects its commitment to developing high-quality multifamily communities across the country. With several new residential developments planned for 2024, Thompson Thrift continues to expand its footprint and contribute to local communities.

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NKY-based Drees Homes Expands its Build on Your Lot Operations throughout Greater Cincinnati – NKyTribune

Drees Homes, a nationally recognized home builder headquartered in Northern Kentucky, is expanding its Build on Your Lot operations across Greater Cincinnati. The company’s focused expansion aligns with its approaching centennial celebration in 2028.

Under the new name “Elevate by Drees Homes,” the enhanced Build on Your Lot program offers homebuyers the opportunity to build their dream homes on cherished land, within custom communities, or in historic neighborhoods. Leveraging their craftsmanship and expertise, Drees Homes aims to deliver high-quality homes in less time and at a fraction of the price compared to traditional custom home builders.

The Build on Your Lot program has gained popularity in Cincinnati suburbs and scenic locations, as well as highly desirable historical neighborhoods. Prospective buyers can explore the new Bedford model at HOMEARAMA 2024, showcasing the Reserve at Stone Pillars Farm in Goshen, Ohio.

Drees Homes’ commitment to smart home technology and energy efficiency sets them apart. Their homes come with a 10-year structural warranty and incorporate DreeSmart Energy, resulting in significant utility bill savings for homeowners.

With a diverse range of housing options across 38 new home communities in Greater Cincinnati, Drees Homes offers condos, townhomes, paired villas, and single-family homes. Their open concept floor plans and emphasis on outdoor living spaces have been well-received by homeowners.

As a family-owned and operated company, Drees Homes has earned numerous accolades in the home building industry, including the title of “America’s Best Builder” and the “National Builder of the Year.”

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