Developers are matching the current trends of infill, consumer demand for a close-knit, walkable street, and South Park’s luxury appetites with a new Foxcroft development.
Called Kenwood Sharon Lane, the community will feature 10 single-family homes on one cul-de-sac street with sidewalks on both sides.
The development will target high-end buyers who want a single-family home with easy access to Uptown and South Park, but aren’t interested in a sprawling suburban lot.
All 10 homes will feature a master suite on the main level. Homes will range from 3,917 to 4,619 square feet and three to five bedrooms. Other features include two fireplaces, an optional elevator, attached rear load garage and brick-walled backyards.
The new cul-de-sac street will connect to Sharon Lane in the stretch between Heathmoor Lane and Providence Road, near St. Gabriel’s Catholic Church. Two older homes on the development site will be demolished.
HM Properties, which represents the residences, said the homes are “rowhouse” inspired – they’re meant to be close together, symmetrical and similar and style – but still single-family (not attached) and private.
Prices will run $1,525,000 to $1,795,000.
I expect these to sell well for a few reasons:
- The cul-de-sac and the cap of 10 homes appeal to the premium buyers at this price point will put on a sense of privacy and exclusivity. Traffic on the main thoroughfares around here can get stressful, upping the value of a separate, private street.
- The prices are becoming this spot’s new normal. Nearby single-family homes a decade old are already in the $1 million range, and smaller, older and unrenovated properties nearby frequently reach $700,000. A 3-bed, 3.5-bath condo in Rosewood Condos, the upscale building down the street, is currently listed for $1.87 million.
- While the ‘rowhouse’ concept may seem unusual for a non-urban location, it will appeal to a specific affluent buyer who don’t want a large yard to maintain but don’t want to share walls or floors in a condo, either.
- The developer, the Jim Gross Company, is the same group behind the Kenwood Myers Park and Kenwood Cottage Place (in Eastover) communities, both of which received a lot of attention for being successful, niche-specific projects.
Site and example 5-bedroom plan
Kim Sheehey of HM Properties is the listing agent representing Kenwood Sharon Lane. See the floor plan square footage specifics and contact Sheehey here.