In an attempt to spur on some new sales of their single-family homes and townhouses, the developers of the Renaissance at Beverly Ridge are offering buyers two incentives.
Buyers who finance their homes through National City Bank will see their mortgage rates reduced by 1.5 points, says sales associate Ebonie Taylor-Brookins. Government employees at any level – city, county, state or federal – will also receive $5,000 toward upgrades, she says.
Approximately 20 percent of the 123 single-family homes and 50 townhouses in Renaissance’s first phase had already sold when MGM Construction and The Terrell Group broke ground in April 2007. Taylor-Brookins said today that sales are at about 25 percent, so it’s been a slow year down in Beverly. If these incentives are relatively new, it’ll be interesting to see if they kickstart sales. If they’ve been around for a while, then buyers are probably needing a sweeter pot than the one they’re seeing right now.
Taylor-Brookins sounds pretty upbeat about things, though. The people who have purchased homes seem to “enjoy the idea of a big, new-construction community instead of infill homes, which they’re used to seeing around here.”
Prices at Renaissance at Beverly Ridge start in the $290s for a 1,423 square-foot, three-bedroom home (the “Regal A,” whose floor plan is at right) and reach up into the $560s for a 3,165 square-foot, three-bedroom home, according to MGM’s Web site. Three models are nearing completion, and first deliveries will begin this August.
Edit: As reader Rory pointed out, the name on this one will fool you. It’s in Washington Heights.