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Old 08-06-2011, 04:16 PM
 
Location: Northwest Indiana
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Park West has been heavily marketed from day one, both within the RE community and outside. They also marketed quite a bit in Chicago and other places where there are high end buyers that could consider NW Indiana. Shannon Bridge was barely marketed at all, and the press it got was largely negative. Plus there are plenty of open lots all over Briar Ridge so the new phase was probably too early even before the market slowed.
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Old 08-08-2011, 01:37 PM
 
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Quote:
Originally Posted by richb View Post
Park West has been heavily marketed from day one, both within the RE community and outside. They also marketed quite a bit in Chicago and other places where there are high end buyers that could consider NW Indiana. Shannon Bridge was barely marketed at all, and the press it got was largely negative. Plus there are plenty of open lots all over Briar Ridge so the new phase was probably too early even before the market slowed.
Very true...I think Briar Ridge was relying way too hard on their name to attract buyers and probably thought there was a lot more demand for lots in a gated community than there really was...one thing that Munster had as an advantage was the fact that it is the first, only, and pretty much last gated community in town and that was attractive. Also, the HOA fees are MUCH less than in Briar Ridge (obviously because of a lack of a course and pool).

I know that the negative press that Shannon Bridge got (before it had that name) was due to the fact that multi-family units were proposed and residents threw a fit. Now with the whole country club sale fiasco and the soon-to-be death of Don Powers, I wonder what will happen. I really hope that Centier does not sell the lots to some huge national home builder :-/
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Old 02-13-2012, 02:13 PM
 
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Default Update

Hektoen Homes is building a model home in this new phase right now! If you drive by on Main Street, you can see it clearly! This is good to see.

Shannon Bridge Model
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Old 09-02-2012, 10:41 AM
 
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Default Update

Looks like there is another home being constructed in this phase. New home construction for upper-end buyers seems to be picking up a lot in the area. Hopefully this means continued development of this phase.
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Old 06-02-2013, 03:46 AM
 
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Default Shannon Bridge

There are several homes going up in Shannon Bridge now.

There were a few reasons why it took a bit to get going

#1- NO ONE wants to be the first home to dig in an expensive development like that..It took a few spec homes being built to bring some attention as well as "strength" to the development

#2 Many of the lots are very narrow

#3 If people are going to move to that area and spend that much on a home they are opting for the Munster schools

#4 Many of those lots back up to older homes
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Old 08-29-2013, 09:25 PM
 
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So I have seen a lot of proposed construction plans for Shannon Bridge...and I have to ask...

Why are most of the plans for homes that are around 2500 sq ft, with two car garage, and in the $450,000 - $500,000 range? For this development, it seems a little...basic? (for being in Briar Ridge). I was thinking that the homes would be more comparable to those found in Park West...more around 3500+ sq ft and more in the $650,000+ range.

I wonder how current Briar Ridge residents feel about these proposed plans.
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Old 01-24-2014, 06:32 AM
 
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Originally Posted by Northwest Indiana View Post
So I have seen a lot of proposed construction plans for Shannon Bridge...and I have to ask...

Why are most of the plans for homes that are around 2500 sq ft, with two car garage, and in the $450,000 - $500,000 range? For this development, it seems a little...basic? (for being in Briar Ridge). I was thinking that the homes would be more comparable to those found in Park West...more around 3500+ sq ft and more in the $650,000+ range.

I wonder how current Briar Ridge residents feel about these proposed plans.
I know I posted this question 5 months ago, but I looked at some real estate in Shannon Bridge again, and the question still stands. I thought the homes would be more in line with what Briar Ridge was known for? I know the economy is different, but again...Park West as compared to Briar Ridge...what's the deal?
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Old 01-25-2014, 12:14 AM
 
Location: Northwest Indiana
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Quote:
Originally Posted by Northwest Indiana View Post
I know I posted this question 5 months ago, but I looked at some real estate in Shannon Bridge again, and the question still stands. I thought the homes would be more in line with what Briar Ridge was known for? I know the economy is different, but again...Park West as compared to Briar Ridge...what's the deal?
Munster still gets the premium price. Even over Briar Ridge.

Keep in mind too that with Shannon Bridge lots, only about a third of them are on the golf course. Most back up to 1970's townhouses outside Briar Ridge or Main Street. They are the least desirable lots in the whole country club. One of the reasons why its the last phase. They will bring less no matter what, but does open BR to a few more people.

They still are really nice houses. Still nicer then 95% of what is built around NWI. Pretty nice when you consider how bad the economy still is. Pretty good when you consider how many other lots are still available in earlier phases in better locations within Briar Ridge. Many of the houses built in the early 1980's are that size too, so its not like they are, all of a sudden building "low end" houses in there.

Higher end buyers have far more choices the average buyer. There are far fewer of them. So higher end development by their nature will take longer to build out. Briar Ridge is really large, and has been under development for 30 years already (and had less competition then), so don't be surprised to see new houses going up in there for at least another 10.
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Old 01-25-2014, 07:57 AM
 
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Originally Posted by richb View Post
Munster still gets the premium price. Even over Briar Ridge.

Keep in mind too that with Shannon Bridge lots, only about a third of them are on the golf course. Most back up to 1970's townhouses outside Briar Ridge or Main Street. They are the least desirable lots in the whole country club. One of the reasons why its the last phase. They will bring less no matter what, but does open BR to a few more people.

They still are really nice houses. Still nicer then 95% of what is built around NWI. Pretty nice when you consider how bad the economy still is. Pretty good when you consider how many other lots are still available in earlier phases in better locations within Briar Ridge. Many of the houses built in the early 1980's are that size too, so its not like they are, all of a sudden building "low end" houses in there.

Higher end buyers have far more choices the average buyer. There are far fewer of them. So higher end development by their nature will take longer to build out. Briar Ridge is really large, and has been under development for 30 years already (and had less competition then), so don't be surprised to see new houses going up in there for at least another 10.
Thanks for responding! I should clarify that I really did not mean to say "low-end" housing because it is definitely not low-end. And overall, I understand the justification for Munster and Park West lot and home prices. I guess I was just somewhat surprised because the way Shannon Bridge was originally played up to be, it was going to have super modern home styles...but things do change and it could still have very different homes put up!
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Old 01-26-2014, 12:56 AM
 
Location: Northwest Indiana
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Originally Posted by Northwest Indiana View Post
Thanks for responding! I should clarify that I really did not mean to say "low-end" housing because it is definitely not low-end. And overall, I understand the justification for Munster and Park West lot and home prices. I guess I was just somewhat surprised because the way Shannon Bridge was originally played up to be, it was going to have super modern home styles...but things do change and it could still have very different homes put up!
Super modern styles just don't seem to sell in NWI, it seems those buyers prefer the city. Even when they are well done. Builders that have built them on spec end up owning them for far longer then something more traditional. The ones around are generally custom built pre-sold. So I don't fault builders from avoiding them when building spec.
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