SANTA CLARA, CA—Developers are seeing construction ratchet upnow that projects are once again underway. As an example, developerSummerHill Homes' nearly $1 billion Nuevo has some homes completedand residents moved in, but the larger development still has a waysto go for the full master-planned urban town to reachcompletion.
Overall, SummerHill was surprised to discover that despite thequarantine in the Bay Area, prospective buyers want to tour even ifit means virtual walkthroughs, Zoom tours, etc. Homes at Nuevo,which usually cater to first-time homebuyers or Baby Boomerswanting to relocate to suburban new construction, range from $1 to2 million.
Robert Freed, CEO of SummerHill Homes, recently discussed howsocial distancing is changing the way homes are marketed, how willgrand opening celebrations be different, how sales interest hasincreased, the importance of human interaction in the sales processand if the slower progress of construction will affect any futuredevelopments.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
