|
EPR Archived News |
Bedford at Falls River Two Years Ahead of Planned Sellout DateReleased on = September 19, 2005, 1:29 pm Press Release Author = LA&M Industry = Real Estate Press Release Summary = Raleigh's top selling master-planned community, Bedford at Falls River, is currently several years ahead its sales predictions. The Wakefield Development Company community - a Traditional Neighborhood Development (TND) community - was the 2004 NCHBA Community of the Year. Press Release Body = RALEIGH, N.C. -- Wakefield Development Company of Raleigh began developing Bedford in 2001. Initial plans estimated the community would be selling new homes until 2010. But for Bedford at Falls River, home sales have increased significantly every year, and the community now predicts a 2008 sell out for homes, including the build out of all commercial areas. Economic health
and job availability in the Triangle are creating more opportunities
for new home communities in general, but Bedford has established
itself as the leader in Wake County for a reason. The sales pace
at the community is credited to the upfront investment made by Wakefield,
according to John Myers, President of Four years ago,
developers did not anticipate a master-planned community in the
Triangle to be this successful, this fast. Because of the difficulty
for the real estate community to accept the Traditional Neighborhood
Development (TND) concept, Wakefield Development Company needed
to convince realtors and homebuilders of its It’s not just Bedford that’s growing. Wakefield Plantation, another master-planned community by Wakefield Development Company, is keeping pace with Bedford in home sales for the year. Although both communities are the top sellers in Wake County, the rate of Bedford’s growth stands out. Wakefield has averaged 245 sales per year since 1998, and Bedford averages 253, but it took Wakefield Plantation six years to break 300 home sales, a feat Bedford accomplished in only its second full year. Bedford at Falls River led Wake County in sales last year with 368, and is on pace to surpass that mark this year. Bedford has sold over 200 homes within the first six months of 2005, and is on pace to surpass 400 new home sales for the year. Myers believes
today’s homebuyers are investing not just in newly constructed
homes, but also the communities that these homes are built in. "The
savvy buyers are looking for more than a house when purchasing.
They are shopping for neighborhoods that will enhance their daily
lives. They want to promote a sense of community, not Being two years ahead of pace, Wakefield Development Company can plan on developing its commercial Town Center within the community much sooner, offering current residents those additional benefits well ahead of schedule, making the community a greater draw for new potential home buyers. "Bedford at Falls River offers a way of life, it supports community involvement, recreation and a more active lifestyle. Today’s buyer is more educated about what that investment will bring in the future," said Myers. ABOUT BEDFORD
AT FALLS RIVER ABOUT WAKEFIELD
DEVELOPMENT COMPANY Web Site = http://www.BedfordTradition.com Contact Details
= MEDIA CONTACT: Zach Mazefsky
|
|
2022
