Affordable Condos Coming To Billion Dollar Mile
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There's a surprising development at the high-priced Oakland Township area that's often call the Billion Dollar Mile.
At the northeast corner of the massive neighborhood - nine subdivisions with hundreds of houses priced between $600,000 and $2 million - will be a neighborhood of good-looking attached condos that will sell for $150,000 to the $200,000s.
It's called Oakmonte at Silver Creek, 366 condos from about 1,100 to 1,500 square feet. The condos are the first of three parts of the Silver Creek project. Moderate-priced houses and duplexes will follow. Behind the Silver Creek project are the subdivisions of million-dollar homes like Kingspointe and Kingsridge.
Like the million-dollar homes, these condos will be built by Moceri Cos. - the same group that developed the Billion Dollar Mile and is building most houses in it. For this project, Moceri partnered with another established builder, Burton-Katzman.
Construction has not started yet, but interested buyers can register for an Aug. 25 opening. On that day, registered buyers can select their location and floor plan and lock in pre-construction pricing. The first units will be ready for occupancy next summer.
All three floor plans will be ranch-style units, but they won't all be on the first floor. Because the attached garages are located at ground level, one out of three condos will be on the first floor and two out of three on the second.
Why are Moceri and Burton-Katzman bringing a moderate-priced project into this high-priced neighborhood?
Neighborhood reception seems good. On Sunday, says Katzman, with just a sales trailer on the land, visitors took away 140 brochure.
It grew from a concern by Oakland Township, say Bob Katzman. "The township was looking to have some housing that was affordable for the people already living here," Katzman says. "Not everyone can afford the million-dollar houses."
This is not Moceri's first venture into moderate-priced condos. The company built more than 800 over the past five years in Macomb County. But Kelly Poniers, executive director of real estate development, stresses that Oakmonte's condos have been designed especially for this Oakland Township location.
Oakmonte will be on the south side of Silver Bell Road, just west of Adams Road.
For more information, call 248-373-8600, 12-6 daily.
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