Posts Tagged ‘ niche development ’

Niche Development: If You Build It, They Will Come

What has 2700 to 3500 sq. ft of one-story living, at least 2 bedrooms+, at least 2.5 baths, upscale finishes, 2-car garage parking, and a balcony or terrace for outdoor living?

If you live in Bethesda, Maryland…the answer is “nothing”….at least nothing currently available to purchase…and just a few lucky owners are living in the limited number of units that fit this description.

Despite a crying need for luxury “empty nestor” pads in walkable communities, developers in downtown Bethesda Maryland (an urban village in the close-in DC suburbs) don’t seem to get it.

Most condo buildings may have a couple of these high end units, but the majority of the development is devoted to 1 and 2 BR units with a square footage that tends to max out at about 1200-1400 sq. feet.

And the requirement for a “balcony or terrace for outdoor living”? Nope! Developers haven’t gotten the point. You CAN sell outdoor space. Even if it doesn’t “count” as finished square footage of the unit. Continue reading this post

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Posted by: Kevin Koitz on October 2nd, 2010 under Guest Bloggers, Regional

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