A Fruitful Outcome: Auburn Grove Condominiums Sees Progress
The Great Recession really did a number on the housing market. Between 2005 and 2013, few were buying homes due to the economic uncertainty. Many residential projects throughout the region stalled and were left incomplete. Unfortunately, that’s what happened with the Auburn Grove Condominiums project, which is located north of Shimmons Road, west of Squirrel Road. Due to lack of sales, the original developer had to forfeit the property back to the bank in 2010 with only 67 of the planned 124 units being built. Things didn’t look good.
As discussed in our February 16, 2012 blog entry, Hope in the Housing Bubble, the City of Auburn Hills played a proactive role in facilitating the sale of the undeveloped land within the project (57 units) to a new builder in late 2011. Now, three years later, all involved are seeing the fruits of their labor.
Twelve units have been built and sold, eleven units are under construction and near completion, and the builder has pulled permits to start construction on seven additional units this Spring. If the current pace continues, the project should be complete by the end of 2017.
This development is a great option for folks desiring ranch-style living in a maintenance-free condominium community. It’s surrounded by woods, but close to everything. If you’re looking for a new place to call home, check out their website by clicking here. Better hurry, it will soon be sold out.