What is Market-Rate Housing?

Market-rate housing is a term that confuses many people. With the announcement of our development project with Davenport Properties, we want to take a look at what this means for the teachers and community of Springfield, Massachusetts.

Housing Affordability

For housing to be considered affordable, it means you spend 30% or less of your total income on housing. This leaves you with 70% of your income to spend on additional bills, food, transportation, and savings.

Many people, especially in larger cities, are spending more than 30% of income on housing. In the case of teachers who work in cities, the cost of housing is often an issue. 

HUD offers affordable housing options throughout the country for people and families who spend more than 30% on housing.

Market-Rate Housing

Market-rate housing means that rent is set at a rate that is comparable to other housing units in the area. New construction is costly, which means that new housing developments frequently come with high rents. 

In the case of Willy’s Overland Redevelopment Housing Initiative, Davenport Properties and partners of the city of Springfield wanted to create market-rate housing catered to teachers and welcoming to millennials and baby boomers. 

As we build 60 new units in this first building, we are focusing heavily on the building amenities and making each unit functional for the people who live there. These brand new housing units will feature the quality and design that The Horton Group is known for. Knowing that the city of Springfield is dedicated to making this market-rate project affordable to those living there makes the project even more meaningful. 

 

A Development for Growth: 151 Chestnut Street

A city committed to growth. A vision to develop affordable housing for teachers. A group of people willing to do the work to make a difference.

Horton Group is excited to partner Davenport Properties in a market rate housing project in Springfield, Massachusetts. Horton Group will complete the construction on a 60-unit building in the former Willy’s Overland Building on 151 Chestnut Street. 

The idea began with Paul Doherty and other members of Springfield Business Leaders for Education when they asked how to support teachers in the Springfield Public School System. 

“Over several meetings, we came to identify an area where we are able to move the needle best was by helping to attract and retain teachers here in the city,” said Tricia Canavan, President and Owner of United Personnel.

After teaming up with Davenport Properties, they searched for the perfect property, and plans started to come to fruition. At the press conference, Springfield Mayor Domenic Sarno explained that the construction for the $14.5 million investment is beginning this summer, with plans for completion in 2020. 

Willy’s Overland Redevelopment Housing Initiative

The 35,000 square foot building was once home to a car maker before being damaged in a gas blast and abandoned in 2012. Once completed, the renovated building will have a vibrant retail space with a cafe and patio on the ground level, along with 60 apartments and common areas catered toward teachers.

After visiting a housing project with a similar vision in Baltimore and speaking with a teacher group, as well as students at UMASS Amherst, Davenport Properties understood what types of amenities teachers wanted in their community.

The main lobby with offices, computers, and a conference table will be incorporated into common living areas for teacher collaboration. In addition, there will be a common area with a fireplace, big screen TV, and kitchen, as well as a fitness center in the building. 

Just the Beginning

While the development is focused on attracting and retaining teachers, Springfield Mayor Domenic Sarno is expecting the property to draw in “an eclectic mix: the millennials, the baby boomers, empty nesters…but especially teachers,” he stated. 

While this initial development is 60 units, Chuck Irving of Davenport Properties believes this building is going to be a step forward for Springfield.

“We went out and invested in another building and another property for the ability to do several hundred units,” Chuck shared. “Because we think this building is going to be successful, and we think this whole neighborhood is going to turn into something very valuable for the community.”

Learn more about Willy’s Overland Redevelopment Project here:

 

4 Benefits of One-Level Living

One-level living does not mean cramped living quarters. In fact, a one-level floor plan lends to an open flow, high ceilings, and can easily provide space for all of your needs – without the need to go up and down the stairs. 

Accessibility

Accessibility is the most significant benefit to one-level living. With everything on one floor, the struggle of ascending and descending the stairs is eliminated. Whether you have a toddler in the house, elderly in-laws staying with you, or plan to retire in the home, one level is easier and safer to navigate. 

At The Residences at 66 High Street, The Whitfield and The Leete feature one-level units, with elevators that go from the parking garage or lobby up to each floor. 

Open Floor Plan Options

Open floor plans continue to be the most sought after design in homes. An open flow between the most used areas of the home – the kitchen, dining area, and living room – creates a feeling of connection. This holds true whether you are hosting a party or preparing a meal for your family.

With everything on one level, designing an open floor plan comes naturally. There is no family room in the basement or loft on the second level that becomes the gathering space. 

Increased Energy Efficiency

Single story homes usually have a floor plan that air naturally flows through. The HVAC system required for a one-level residence is more sustainable and generally less expensive than what is needed to heat and cool multiple levels properly. 

Easy to Maintain

Both the interior and exterior of single-level houses are easier to keep clean and maintain. Inside, your cleaning supplies and laundry room are on the same floor, which means you do not have to carry items up and down the stairs while cleaning. The exterior is also easier to maintain, whether you are power washing the siding, cleaning the windows, or clearing out gutters. 

With more people aging in place and staying in their homes throughout retirement, one-level living is becoming more sought after. Are you considering moving to a one-story residence? Contact us to discuss floor plan options. 

Concrete Flooring Finishes

Concrete has always been popular in garages, basements, and factories due to its durability and low-maintenance. When the only option was a dull gray color, concrete was kept out of more high-profile areas of homes and businesses. 

Textured concrete is changing the way people use this flooring option. Concrete is made with a natural composite material combined with a cement binder and water. Textured concrete can be made smooth, shiny, or with patterns to create the look that you want. 

We go through some of the finishes that can be applied to concrete, so this durable and low-maintenance flooring can also be a focal point in the design of your space. 

Polished Concrete

Polished concrete creates a modern feel that can be used in finished basements, kitchens, and living rooms. The process starts by grinding the surface of the floor to the desired smoothness. Then the surface is sealed to create a shiny surface and protect the flooring from moisture and stains. Several tenants in the 350 Goose Lane Office Park opted for polished concrete flooring due to its durability, low maintenance, and modern industrial look.

Stamped Concrete

For a look of paved brick or stone, concrete stamping is an option. Large polyurethane stamps are used on the surface of wet concrete to create a 3-D impression. After stamping, the concrete is sealed. Stamped concrete is often used in outdoor living spaces, such as patios or pool decks. 

Stenciled Concrete

Stenciling is similar to stamped concrete in that it is done on wet concrete that has been poured, floated, and edged. Stencils are made from disposable paper and pressed into the surface to create patterns. Popular stenciling options include mimicking the look of ceramic tile, bricks, or pavers. 

Color

To change the color of a new concrete floor before it is poured, you can add color hardeners or integral pigments directly into the material when being mixed. For subtle color changes, natural dyes are used, while chemical coloring can create brighter colors. 

For an existing concrete floor, you also have options to add in color. These include staining, painting, or using tinted concrete sealers. 

Concrete flooring is being used in residential interiors, outdoor living spaces, and commercial offices. The low-maintenance and highly durable flooring, combined with numerous design options, make concrete a popular choice.

Leete Condo sells at the Highest Price Per Square Foot in New Haven County

With sweeping views of the salt marsh and Long Island Sound, the stately Leete is one of the newly constructed buildings in the luxury development at the Residences at 66 High Street. While this award-winning development continues to grow, The Horton Group remains dedicated to providing residents with luxurious amenities and masterful craftsmanship in the heart of historic Guilford.

Two closings in the Leete building took place in the past month, including Unit 39, which became the highest price per square foot in New Haven County this year when it sold for $1,985,275. With more units under contract, we can’t help but reflect on the history, work, and community that has made this possible.

The History

The Horton Group took on the development of the Residences at 66 High Street, beginning with the transformation of the historic Mill building. Originally built in 1884, the building served many purposes, including a factory in World War II era. During this time, women were employed to assemble ball bearings for military vehicles, while the rear portion of the building doubled as a school for the children of factory workers. When renovating the building into 15 luxury condominiums, many original features were left intact, with units showcasing antique brick, steel, and exposed beams, paired with high-end finishes and modern day amenities.

The three new buildings on site, including the Leete, feature Type II-B construction with reinforced concrete and steel, which is high above the standard for new construction in the area. Each unit is thoughtfully laid out and designed to capture the most breathtaking views on the Connecticut shoreline.

The Work

As each year passes, the Residences at 66 High Street continue to showcase some of our best work. The development has received Home Building Industry Awards, or HOBIs, every year since 2016, including Project of the Year, Best Condominium Community, Best Historic Rehab, and Best Luxury Townhouse. As each new building goes up, we continue to pay attention to every detail, choose top quality products, and work with the best industry professionals. This work has allowed us to build a development we are proud of.

The Community

While the accolades are a perk, the community at 66 High Street is why we really love this work. Walking distance to shops, restaurants, and the Green, it is easy to enjoy all that downtown Guilford has to offer. Residents often gather together to walk their dogs, complete a workout in the fitness room, or enjoy an evening sharing laughs over a meal. When we first started this project, we envisioned a neighborhood feel, but never expected such a strong and welcoming community.

The community, combined with Guilford’s rich history and the quality work put into every unit, allows us to continue to create and sell luxury homes on the Connecticut shoreline. We are honored to have our work recognized, both by the Home Builders & Remodelers Association of Connecticut and by the people who chose to call 66 High Street home.

The recent closings and the units under contract, exclusively listed with One + Company at William Raveis Real Estate, speak to the work we have put in, and we are excited to watch as this community continues to grow.

The Benefits of Landscaping

Landscaping does more than just create beautiful curb appeal. Taking care of your property, whether a single-family residence, a condominium community, or a commercial development, has environmental, economic, and health benefits.

Environmental Benefits

Maintaining your lawn or property helps to protect you and the environment. Here are some of the ways landscaping helps the environment:

  • A lawn helps to control temperature extremes. In summer months, grass is cooler than pavement or cement, and trees that provide shade help cool down the property and home even more.
  • Grass helps to capture dust and pollutants and produces oxygen, keeping the air we breathe cleaner.
  • Pollutants and storm runoff are reduced when healthy lawns absorb water, which reduces local flooding and keeps polluted water out of larger bodies of water.

Economic Benefits

Along with helping the environment, a well-cared for property has economic benefits for homeowners and business owners alike:

  • Curb appeal is the first thing people notice when looking to buy a home. A beautiful property can increase the value of your home and reduce the time your property is on the market.
  • Residents of apartment complexes or condominiums are likely to pay more to live in a complex with grounds that are well cared for. HOA fees generally take care of landscaping, which means residents can enjoy the benefits of the property without having to care for it themselves.
  • In commercial spaces, green space encourages shoppers to spend more time at the development and increases property values.

Health Benefits

Landscaping also positively impacts health, both at home and work environments.

  • By filtering pollutants, landscaping helps to clean to the air.
  • In workplaces, landscaped areas help to decrease stress and increase positive mood, even if just looking out a window.
  • A well-planned property can provide privacy and a beautiful environment where you can spend time with loved ones.

With warmer weather approaching, now is the time to get started on your landscaping, so that you can enjoy the benefits of the outdoors for the next several months.

What type of insulation do I need?

Insulation is needed in homes for many reasons: cost and energy savings, comfort, and even noise reduction. Depending on the climate where you live, the amount or type of insulation you need varies.

Insulation materials slow the flow of heat. In winter, it will slow the flow of heat from inside the home moving out, and in summer it slows the flow of heat from the outside in. The better insulation you have, the slower that flow will be, saving you on heating and cooling costs.

Insulation R-values refers to how much insulating power you need or have in your home. The higher the R-value, the more heat the material resists. The R-value is determined by the type of material used, the density, and the thickness.

The map and table below, from Insulation Institute, shows the insulation R-value needed based on location in the United States.

Zone Attic Wall Cavity Floor
1 R30 to R49 R13 to R15 R13
2 R30 to R60 R13 to R15 R13 to R25
3 R30 to R60 R13 to R15 R25
4 R38 to R60 R13 to R15 R25 to R30
5 R38 to R60 R13 to R21 R25 to R30
6 R49 to R60 R13 to R21 R25 to R30
7 R49 to R60 R13 to R21 R25 to R30
8 R49 to R60 R13 to R21 R25 to R30

 

“This map shows thermal recommended levels of insulation for various climate zones, based on recommendations from the U.S. Department of Energy (DOE) and the International Energy Conservation Code (IECC). The IECC is the model building code for the United States.” (insulationinstitute.org)

When building or renovating, consult with your contractor to determine what type of insulation is best for your home and location.

What is a change order?

During the construction process, it is important to address sensitive subjects to avoid future conflict. Contracts solidify expectations and help to ensure that contractors and customers understand expectations.

Once a contract is in place to specify a scope of work and the budget, change orders are essential for moving forward. A change order is a written document that records alterations made during construction and acknowledges any increase or decrease in the cost and timing of the project.

In short, change orders consist of:

  • Revisions made to the scope of work
  • Updated pricing for revisions made
  • Alterations to the existing contract to accommodate the new scope of work
  • The signatures of the contractor and the customer

For a more in-depth understanding of the subject, check out eSUB’s explanation.

The key to a successful change order is a clear, two-sided understanding of expectations between customer and contractor.

At The Residences at 66 High Street, building allowances provide a clear set of guidelines for both contractors and customers. In the event that a client goes under or over the total budget for the allowance, a change order would be necessary.

What are the benefits of underground parking?

The arrangements for parking at The Residences at 66 High Street are in large part site-specific. In the three new luxury condominium developments, resident parking is under the buildings. The quasi-underground parking structure mainly stemmed from efforts to raise the building’s living and mechanical spaces out of the 100-year flood zone.

Placing parking below the structure or underground can offer a number of other advantages. These include:

  • More available land. With parking under buildings, residents have more green space to enjoy.  
  • Reduces crime. With easier access control, underground parking reduces crime when compared to large, open parking lots, as a result of easier access control.
  • Unobstructed views. When looking out luxury condominium windows, the last thing residents want to see is a parking lot. With cars out of sight, people can enjoy the beauty of the shoreline.
  • Pollution control. Underground parking improves both liquid and solid waste pollution control.
  • Convenience. Underground parking keeps cars as close to the building as possible while protecting the cars from elements of weather.
  • Reduces artificial cover. Underground parking also reduces artificial impervious cover such as asphalt, concrete, or brick, which is an environmental concern.

The Residences at 66 High Street, combining the freeboard, or an elevated first floor, with parking, is both convenient and beneficial.

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