Opinions on Towne Park on Leestown Rd (sales, apartments)

[J. SUAR]

I am curious regarding opinions on Towne Park by Leestown Rd. What kind of people are buying those apartments? (level of education, professions, etc); crime rate in the area? I have seen the apartments and they are nice; I was not crazy about this suburbia life style but homes seem easy to maintain. What is the resale value of these properties?

I just made a mistake of passing on a beautiful old house in M/thorpe that hardly needed care and I am not into buying houses that need lots of work, repairs and updates. I am a single professional woman with no time to devote to housekeeping (no interest, rather read and watch movies; like my house nice and clean though). I've been in LEX for a year and a half and the city is still bizarre to me. Do not want to live by H/burg Pavillion nore Man O war.

Thanks

[LAbleedsBlue]

Well, I'm biased because I work for Anderson Communities (who owns Townley Park), but those apartments/townhouses are going fast - along with the houses! The apartments were 100% full, but they just opened up a new building and now have some openings. It's great that you've got everything you need within walking distance - grocery, restaurants, dry-cleaning, pharmacy - the list goes on. If you haven't been to our website, you can take a look at our floorplans and take a better look at all our communities - here.

Let me know if you have any questions - I work at Park Plaza apartments downtown (another apartment community owned by Anderson Communities), but I can give you some email addresses of some people working over there.

Good luck on finding a new home!

[InLondon]

I really like the old style houses (yet new houses) in Townley Park. I don't know anything about the apartments, but it is a nice new area.

[LEXpert]

Do you know that you can smell the landfill over there? I would avoid the townhouses........period! There is no way that they are going to maintain their value. I have a client who bought over there and she isn't too happy. I told her my opinion of the area, but she didn't listen. The problem will be that at some point all that retail is going to go downhill. There are already more vacancies that you'd think there should be. Now, when that happens, who is going to want to buy back there if you have to drive past run down commercial? I just did a check, it looks like they have sold 6 houses/townhouses out there in the past 6 months and 8 are on the market.............Don't rush into anything!

[LEXpert]

140 TOWNE SQUARE PARK
[SIZE=-1]Sales[/SIZE][SIZE=-2]Sale Date[/SIZE][SIZE=-2]Sale Price[/SIZE][SIZE=-2]Owner[/SIZE][SIZE=-2]Previous Owner[/SIZE][SIZE=-2]10-SEP-08[/SIZE][SIZE=-2]$172,000[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE][SIZE=-2]31-OCT-06[/SIZE][SIZE=-2]$184,105[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE]
128 OLD TOWNE WALK [SIZE=-1]Sales[/SIZE][SIZE=-2]Sale Date[/SIZE][SIZE=-2]Sale Price[/SIZE][SIZE=-2]Owner[/SIZE][SIZE=-2]Previous Owner[/SIZE][SIZE=-2]15-AUG-08[/SIZE][SIZE=-2]$189,000[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE][SIZE=-2]11-JUL-07[/SIZE][SIZE=-2]$214,810[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE]
Oh, you asked about resale? the only 2 properties that have sold on lbar in the past 6 months that were not brand new houses have sold for less than what they cost as brand new. I expect the townhouses to take more of a hit!

[LEXpert]

Originally Posted by LEXpert

140 TOWNE SQUARE PARK
[SIZE=-1]Sales[/SIZE][SIZE=-2]Sale Date[/SIZE][SIZE=-2]Sale Price[/SIZE][SIZE=-2]Owner[/SIZE][SIZE=-2]Previous Owner[/SIZE][SIZE=-2]10-SEP-08[/SIZE][SIZE=-2]$172,000[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE][SIZE=-2]31-OCT-06[/SIZE][SIZE=-2]$184,105[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE]
128 OLD TOWNE WALK [SIZE=-1]Sales[/SIZE][SIZE=-2]Sale Date[/SIZE][SIZE=-2]Sale Price[/SIZE][SIZE=-2]Owner[/SIZE][SIZE=-2]Previous Owner[/SIZE][SIZE=-2]15-AUG-08[/SIZE][SIZE=-2]$189,000[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE][SIZE=-2]11-JUL-07[/SIZE][SIZE=-2]$214,810[/SIZE][SIZE=-2][/SIZE][SIZE=-2][/SIZE]
Oh, you asked about resale? the only 2 properties that have sold on lbar in the past 6 months that were not brand new houses have sold for less than what they cost as brand new. I expect the townhouses to take more of a hit!

Geez, sorry about this. I cut and pasted from the PVA and it didn't look like this when I hit submit!! The bottom line, check the PVA to see the ones that have sold as "Used" houses. That will give you an idea about resale.

[J. SUAR]

Thanks to all of you who have replied. This helps. A lot of people think that this is the area where LEX will expand now. Could that be true?

Someone suggested PVA in the answer. Any idea on what website to check for this. Thanks a lot again.

[J. SUAR]

Thanks a lot. Pardon my ig. What does PVA mean? Where should I look for that? I am not clear if you mean that W/greens, Kroger, and the small shops will close or if you are talking more about the old stores on Leetown Rd. Do you think the houses will lose as much value as the townhomes? (I am not interested in the twonhomes). Thanks

[LEXpert]

Sorry, the PVA site is Fayette County. What you will be looking for is ones that have sold that were not brand new. That is the true test of how a newer neighborhood will fare with time.

I have had 3 clients try to buy out there. 2 of them did. All of them were retirees. Hope that helps.

[LEXpert]

Originally Posted by J. SUAR

Thanks a lot. Pardon my ig. What does PVA mean? Where should I look for that? I am not clear if you mean that W/greens, Kroger, and the small shops will close or if you are talking more about the old stores on Leetown Rd. Do you think the houses will lose as much value as the townhomes? (I am not interested in the twonhomes). Thanks

I meant the shops right in front of the neighborhood. I know you are not interested in the townhomes, but, you will need to be concerned about their value if you live in that neighborhood. They will effect the value of the houses. From what I tried to paste from the PVA, two of the most recent sales of the houses were for $10,000 to $30,000 less than what they had sold for less than 2 years ago!

Go back to Meadowthorpe. That area is solid and has gained popularity in the past few years.