Oakland Township Booms With $1 Million-Plus Homes
There's a lot of dirt turning in Oakland Township.
The developers of high-end homes are betting the township will be the next Bloomfield Hills. Exclusive homes, many with prices near or more than $1 million, are under construction.
An area roughly outlined by Dutton Road to north of Silver Bell Road and west of Adams Road to east of Brewster Road is seeing hundreds of homes being built by Moceri Cos. of Auburn Hills. Prices in the subdivisions range from $445,000 to $2.1 million.
The Southeast Michigan Council of Governments estimates the township's households will increase from 4,394 currently to 8,108 in 2020 and that population will grow from 13,280 to more than 24,500 during that time.
Dominic Moceri, partner of Moceri Company, said the company has sold $30 million worth of homes yet to be built in its Claremont subdivision near Silver Bell and Adams. Claremont is one of nine neighboring subdivisions by Moceri in Oakland Township. Seven are now in development. Two are complete.
Moceri's brothers, Frank and Mario, are the other partners in the company.
The homes in all the projects are built on large lots, often of an acre or more. Oakland Township has minimum lot requirements that vary depending on the zoning of each subdivision. Certain subdivisions require 2.3 acres per home, while others require 1.7 acres or .9 acres, said James Creech, township manager. Extensive landscaping and gated communities are the norm, not the exception. Moceri said just the cost of the landscaping along Adams Road for the company's subdivisions there will exceed $4 million.
The most expensive homes in Oakland Township command prices up to $5 million. Owners of companies, often automotive-related, are the buyers, developers say, along with a handful of professional athletes.
Homes closer to $1 million are being sold mainly to executives working for larger automotive companies, and to other professionals such as doctors, Moceri said.
Many buyers come from Rochester and Rochester Hills. Some are "empty-nesters" looking for homes or condos featuring amenities such as large bedrooms and kitchens, but that are still "small" compared with some of the neighboring homes of 4,000 square feet and up. The new developments feature a mix of empty-nester and traditional housing.
Oakland Township is unusual in the size of homes and level of luxury being offered in the new construction.
"Probably over 40 percent of new homes exceed 6,500 or 7,000 square feet," Moceri said.