August 2019 (later)
Good news — the houses are complete. They went on the market about a week ago and, even better news, one (3613 S. Saratoga) is already under contract and will be transferred to it’s new owner on August 23. Tons of brokers have toured. Several people have come back for a second look. And on Saturday there’s an open house. So that second house might not last long.
The developer beat his projections on this project. The cost of construction was less than anticipated, And the houses are listing for a good bit more than expected.
Curbed New Orleans gave the project a shout out, with some nice photos to boot.
August 2019 (early)
The kitchen cabinets are now fully constructed, appliances have arrived, and the countertop has been installed. Flooring and painting is complete in both homes. The interior details of the entry way are looking good – the front doors are painted, and the mailboxes and address numbers have been installed. Just a few last items to be completed including door hardware installation. The homes are being prepped to be photographed and put on the market soon.
Kitchen cabinets have arrived on site and are being installed. The fence is up and the rear yard is looking like a real backyard. Guardrails and handrails are constructed and they provide a balanced change of material to the exterior. Next week floors, bath accessories and door hardware will be installed.
The project is very close to finishing. A realtor has started putting together a listing that will hopefullly go live towards the end of this month. The market has strengthened in general terms over the last few months and a fair amount of interest on these units is anticipated given the location and price point. There have already been some nibbles!
As of today the project is on track to be under budget on the construction. Soft costs are tracking slightly higher than originally anticipated but not over budget. This is attributed to a longer hold on the property than anticipated but this might be an advantage given the market is just getting moving again after a long lull. When construction is finished all actual expenses will be provided as well as some final accounting and reporting at sale and distribution of returns.
Work continues on the interiors of 3609-13 S Saratoga. Drywall has been installed, prepped and painted. Light fixtures are on the walls and the tiling of bathrooms has begun. Concrete on the site is completed with the addition of the landings at the rear exterior stairs and the pouring of the driveways. Now the hardware and bathroom accessories are being installed and set to be completed next month. The houses are finally beginning to feel like homes.
These homes are coming together with the completion of the exterior siding on all surfaces last week. The exterior is now finished with the last few windows installed. The interior drywalling has begun in 3609 and 3613 will soon follow. Next up is the installation of interior finishes – paint, tile, and flooring!
3609-13 S Saratoga is making progress even in these colder months – the arches are mostly complete and there’s a front door! All the windows and doors have been installed. The mechanical, electrical and plumbing subs are on site and 3613 is close to completed. Building is still on track to have these finished by this Spring.
The piles were driven in November, and since then Starter Home Two has made some real strides. This week the building shells are complete and with that, it looks like construction on track to finish sometime in the Spring.
Construction financing closed in September and construction is finally under way!
Images courtesy of OJT (Office of Jonathan Tate)