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A Triangle real estate development team is debuting its first age-restricted, "pocket neighborhood" in Clayton.
Built by Raleigh-based TIMU Group, the Walk at East Village was inspired by pocket neighborhoods the developers had studied and visited in Washington’s Puget Sound region.
...It’s a project that Joe Smith, president of TIMU Group, says his team has been working on for several years, and they are optimistic that it will be embraced by their targeted homebuying audience in the 55-plus age category.
Location: Chapel Hill, NC, formerly NoVA and Phila
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There are a lot of 55+ communities in North Carolina and across the nation. They are legal. Having said that, I am surprised how expensive these homes are, considering they are out in Johnston County. Also, it seems foolish that that the homes are two-story. Who wants a two-story home as they age?
Reportedly, the Fair Housing Act is clear that homeowner association communities, because they offer services involved with housing, cannot restrict the use of any amenity based on age.
However, there is an exception is if it fulfills the legal requirements to be a 55+ restricted community. In that case, they can limit children at the pool to certain "guest" hours, or restrict the Zumba class to those over 80.
I'm definitely not a lawyer, but I've heard of non-students living in the private 'dorms' near NCSU - so I imagine it's possible, but since it's marketed heavily to a specific demographic....I guess unless you're really comfortable with that demographic, you probably wouldn't be interested. Just my thoughts on it!
So such developments are using federal funds? I didn't read all of that.
I don't think East Village in Clayton is using federal funds. I invite correction and clarification on this...
Quote:
Originally Posted by michgc
There are a lot of 55+ communities in North Carolina and across the nation. They are legal. Having said that, I am surprised how expensive these homes are, considering they are out in Johnston County. Also, it seems foolish that that the homes are two-story. Who wants a two-story home as they age?
I know of many that receive federal subsidies... but the price point of these Johnston homes, as you noted, makes me believe this is wholly a private endeavor. And excellent point about who would wanna buy a 2story going into retirement?
There are a lot of 55+ communities in North Carolina and across the nation. They are legal. Having said that, I am surprised how expensive these homes are, considering they are out in Johnston County. Also, it seems foolish that that the homes are two-story. Who wants a two-story home as they age?
Betty White says her exercise program consists of a home with a lot of stairs and a bad memory.
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