The project began in 2012, with plans for 22 homes for a former parking lot just off of Broad Street on Bainbridge Street. Some problems along the way caused quite a long delay in the building of these homes.
Now a new owner, Alinea Capital Group, has stepped in to continue this development, now called “Kater Court Townhomes” instead of the original “Parke Place” name.
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Since Alinea took over in May, the project has taken some notable steps in the right direction. Three of the homes sold back in 2014, at prices ranging from $1.1M to $1.225M, but the remaining five homes were only 60-90% complete. The new owners have completed a few of the homes, creating a model home in one of the buildings and putting at least two of the other homes under agreement at prices above $1.3M. Most noticeable for a casual observer, they’ve started construction again with one home now getting framed on Bainbridge Street.
They’re now going through the zoning process to make some changes to the approved plans, and expect to build an additional sixteen homes as part of a second phase.