Tuesday, December 18, 2007

Is That What It Is Called?

From Memphis:

Real Estate & Development
Grace Development Couples Preservation With Infill
ERIC SMITH | The Daily News
A local company is putting a different twist on infill development by building new homes on a 1.3-acre East Memphis parcel while keeping the property's existing 1928 home in place.

Cluster of jewels
Infill developments typically involve the razing of homes, but the developers of this project were so enamored with the look and feel of the existing home that they chose to keep it, albeit with some minor upgrades, including an updated kitchen.

They figure a modernized home with "good bones" will be easy to market, especially one charming enough to be featured in Decorating Magazine 10 years ago for its interior designs.

"It should be a good opportunity for us and somebody else," Bagley said. "I think someone's going to get a jewel if they get that house. It's not very often you find an older house like that that's got those really nice features."

Add in a trio of large new homes on small lots - i.e., no lawn to worry about - and the developers and Realtor believe they have a winning formula.

There's a term for this:

"I don't know if it's going to be as simple as putting a sign up, but I do think there's a market in that area for zero-lot-line living," ...

Coming soon, to a neighborhood near you.

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