March 21, 2004
Coventry Court being developed near Ballantyne
Developers of a 53-unit townhome project in south Charlotte’s Ballantyne area have sold 10 homes while finishing a model on the site.
“Based on my experience, if they sell this strongly before we have a model, it’s pretty likely we will build and sell them all this year,” said Terrence Llewellyn of Llewellyn Development LLC.
The townhomes are on Providence Road West, about a quarter mile west of U.S. 521 and slightly south of Ballantyne Country Club. The 7-acre site is south of Interstate 485, where residential and commercial development are flourishing.
Lowes Foods-anchored Hunters Crossing shopping center opened recently at U.S. 521 and Lancaster Highway (old U.S. 521) near the planned project.
Llewellyn’s company is teaming with First LandMark USA Inc. in LandMark/Llewellyn Holdings to develop Coventry Court, whose prices are getting the attention of home shoppers.
Two- and three-bedroom townhomes are selling for $129,900 to $149,900. The median price within a mile radius of the site is $243,928, Llewellyn said.
“We felt like there were a lot of people who wanted to live in the Ballantyne area and felt they couldn’t afford it,” he said.
Llewellyn said initial buyers fall in two main categories: young adults seeking to own their first homes and 35- to 49-year-old single-again adults living alone or with children.
Young adults gravitate to the smaller 1,300-square-foot, two-bedroom, 2 1/2-bath townhomes, and older adults prefer the larger 1,500-square-foot, three-bedroom, 2 1/2-half bath units with garages, he said.
The townhomes will be developed in 11 buildings around the edge of the acreage, which includes a preserved half-acre “green” with a 100-year-old oak tree in the center.
Residents will have views of wooded areas and two ponds next to the property.
Townhomes will include built-in, prewired computer desks; washer-dryer connections upstairs near bedrooms, and private back yards — amenities Llewellyn said market research indicates buyers prefer.
Other features include 9-foot ceilings upstairs and down, master suites as large as 16 feet by 14 feet with double-bowl vanities, and arched interior doors.
Building exteriors will have brick and Hardiplank (a fiber-cement siding) with charcoal-gray roof shingles.
Llewellyn expects to open the first model units by early July. General contractor Saieed Construction Systems started work at the site about a month ago.
Watts Leaf Architects designed Coventry Court, valued at $7 million. Site Solutions handled land planning and engineering.