Dive Brief:
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Raleigh, NC–based developer TIMU Group has opened a pocket neighborhood southeast of the state's capital, according to the Triangle Business Journal. It is the company’s first age-restricted, active-adult cluster community.
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The concept for the development, Walk at East Village, is based on that of a similar neighborhood near Seattle, and will feature detached houses and cottages in groups of eight to 12 units that share a common courtyard and are connected by sidewalks.
- The units range from 1,600 square feet to 3,000 square feet and include street-accessible garages and large front porches. They are priced from the $290,000s.
Dive Insight:
Pocket neighborhoods use clustering to foster community engagement at levels that might not be as accessible in neighborhoods with street-facing homes.
Similar designs are cropping up across the U.S., with a proposal for another such pocket neighborhood in the works for Springfield, MO. The plan calls for 15 single-family homes built around a common green space, with front porches leading to a communal walking path that wraps around the green and encourages residents to socialize.
As is the case with TIMU’s project, pocket neighborhoods are one way developers are targeting members of the growing active-adult housing segment, who are looking for a walkability and social engagement when downsizing their housing.
The National Association of Home Builders 55+ Housing Market Index highlights the strength of the active-adult market, recording an eight-point hike for the fourth quarter of 2016. Age-restricted housing, in turn, was expected to reach half a million units per year in 2016, according to the Joint Center for Housing Studies of Harvard University.
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