Fairfield County Business Journal The Woods: lovely, not dark and deep
The Woods: lovely, not dark and deep
Clubhouse condos on 50 acres
Kohl Partners broke ground at the site of its first Connecticut community, The Woods at Newtown.
“We are proud to announce the start of construction and the exciting news that 70 percent of our first two buildings are already sold,” said Leonard Kohl, chairman of Kohl Partners. “Despite national housing reports, real estate is local, and we have not seen any decline in traffic or demand at The Woods. Our traffic has actually improved in the past month and we had three new sales last weekend.”
“The pace of sales at The Woods is evidence that builders who do their homework and offer real value can be successful, even in a slow economy,” said Kohl.
The location on 50 acres of woodland on Route 6 in Newtown is to be an active adult community of 132 clubhouse condominiums in nine buildings with covered parking. The condominium buildings are connected by enclosed walkways to a resort-style clubhouse in the New England tradition.
In keeping with the name, The Woods will include a series of nature trails.
According to Kohl, prices at The Woods have started in the mid-$300,000 range. Occupancy is expected in the summer of ’09.
“The Woods will bring needed tax revenue and jobs to Newtown without a drain on schools or other town services,” said First Selectman Joe Borst. “This is especially beneficial at a time when the economy has slowed and state funding to towns has been cut back. This week, what was estimated as a $50 million state deficit went up to $67 million.”
According to a National Association of Home Builders economic model, the estimated one-year local impact of building 100 homes in a typical active adult community includes: $22.5 million in income; $2.3 million in taxes and other revenue for local governments; and 378 jobs.
“It’s a perfect location for us,” said Cathy Richard, a Woods homebuyer formerly of Bethel. “We love all that Greater Danbury has to offer, and when we want to visit our four grandchildren in Bolton, Mass., we can just hop on I-84. This will be easy living with no worries about the house. We have a second home in Hilton Head, so we wanted a turnkey kind of lifestyle and The Woods provides just that.”
So far, The Woods homebuyers are from Stamford, Norwalk and Wilton, as well as Westchester County and New York City.
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