Apr. 05, 2008

TREHOUSE GOES ON SALE TODAY
Small size brings lower cost at Dilworth condo project
DOUG SMITH

A home in Dilworth for less than $150,000?

That's not a typographical error. Prices range from the $140,000s to the $220,000s at the 52-unit TreHouse condos at Tremont and Euclid avenues.

David Furman of Centro CityWorks disclosed design and construction details Friday for the $11 million project.

Smaller units -- from just over 500 square feet to the mid-700 square feet -- will enable people typically priced out of Dilworth to live there, he said.

The City Council approved a rezoning for the project over objections from the Dilworth Community Development Association, which challenged the density and plans to demolish three structures.

Furman argued that less density would mean larger units, which would cost more and "zone out" affordability.

Dilworth, with its tree-lined streets and easy access to uptown, is one of the city's most desirable neighborhoods.

The average sales price so far this year of a three-bedroom, two-bath, 2,400-square-foot house there is about $625,000, said real estate broker Susan Bednar of Keller Williams Realty.

Furman said Centro worked with Axiom Architecture to create "a project that is modest in scale and consistent with the Dilworth neighborhood."

Two-story condo units in the three-story project will have front porches, Furman said, designed "to engage the sidewalk and the street."

The top floor units will be penthouses accessed by an internal stair system, he said.

A two-story archway leads inside the project to condos with front doors facing a courtyard.

Over the past nine years, Furman has developed 16 condo projects inside the Interstate 277 loop, starting with Gateway Lofts on West Trade Street and including 11 in First Ward.

During that time, he said, Centro  has created a condo brand that focuses on loft units and open, flowing floor plans.

At TreHouse, Centro is emphasizing eco-friendly construction and connectivity to South End shopping, dining and transit.

Condos will have moped and bike racks, recycling bins, large roof overhangs for shade and multiple operable windows in each unit.

Renewable wood flooring will be used on the first floor of two-story plans and cork flooring in penthouse plans.

Charlotte residential sales and building permits have been slowed by the national housing downturn forcing some developers to put condo plans on hold or switch to apartments.

But Furman said he has secured bank financing and is confident TreHouse's price range and location will resonate with homebuyers.

He hasn't selected a general contractor, but he's negotiating with Cox Schepp Construction Inc.