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Transformation In the Housing Industry
Tom Skahen
Make no mistake about it, we are seeing a significant transformation in the housing industry. Sure our country is taking on too much debt, our unemployment continues to be high, and our economy is at a near standstill. As these negative effects continue, we are seeing a transformation in the housing industry that we have not seen in years. As evidence, homeownership rates in the Northeast have dropped from 69.1 in in 2005 to 63.9 in 2011. This number will continue to drop and continue to transform the New England new construction housing industry for years to come.
Simply put, the way we live is changing dramatically and subsequently the way developers build will need to be revolutionary. Would-be buyers, upside down buyers, and others are shifting from ownership to rental. Some developers are quickly shifting for sale product to rental and capitalizing on this trend. Other developers are building smaller more affordable new for sale homes that will translate into a lower purchase price for the buyer. Some have shifted to modular home building to minimize construction cost and sometimes difficult starts and stops. Recently, we've seen banks working hard to adjust the product, price, and overall positioning of new construction communities to protect their investment.
This transformation will continue and the developers that have begun to change the way they design, build, and sell in our new world are already seeing the benefits of change and the opportunities that come with it.
Take a look at the new and innovative residential developments we're introducing below. |
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Boston's Next Boom....Rentals?
Bankers & Tradesman
Bankers & Tradesman's addressed the question of whether Boston's next great rush will be rentals. Read what they, and PrimeTime had to say.
Read the article......
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Introducing....
Three new communities!
The Residences at Portwalk is a new construction mixed use project located in the urban center of Portsmouth, NH consisting of retail, hotel, residential condominium, and now apartments. Street level retail leasing is topped by four floors of 36 one and two bedroom rental units. The tenants will be able to access amenities located in Cathartes Private Investments' nearby brand hotels.
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Jim Goldenberg and Jeff Johnson |
The project is being developed by Cathartes Private Investments, a private real estate company founded in 1992 by Jim Goldenberg and Jeff Johnston.Cathartes engaged PrimeTime primarily for an aggressive pre-marketing and leasing approach. PrimeTime launched the development on June 15 for an October, 2011 delivery. Over one hundred leads have already been procured to date and six deposits taken within the last two weeks.This will be PrimeTime Communities' fifth development with
Cathartes.
Windward Way is a new construction condominium community located in Salisbury, MA. The developer has picked up on a growing trend of smaller being bigger in the marketplace. These homes will be built on slab, include a thousand square feet of living space, a carport, well designed storage, and a price point in the low $200,000's that will be primarily attractive to first time home buyers, single woman, and active adults.
This project is being developed by SPL Development Group, a real estate and construction management company that specializes in multi-family developments. The company was founded by Steve Paquette and Peter Lee. This will be PrimeTime's fourth development with SPL. 
Mattapoisett Landing is a new construction condominium community consisting of 28 spacious condominiums. Located in the coastal community of Mattapoisett, with convenient access to shopping, boating, restaurants, and championship golfing, and built with beautiful interior features, a first floor master suite, and two car garages, these homes are guaranteed to be extremely attractive to the Active Adults for whom they've been designed. The developer, Brophy and Phillips of Brockton, has previously worked with PrimeTime on one other project. Homes are being re-designed and positioned with smaller and more efficient floor plans to hit price points that make sense for this demographic. |
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PrimeTime Land 
As a real estate advisory, marketing, and sales company we are always coming across permitted residential land opportunities. We are aware of current opportunities in the following towns:
- Hooksett, NH
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Worcester, MA
Please call Tom Skahen at 978-952-6495 if you would like additional contact information, would like us to list your land, or are interested in debt and equity sources. |
