Demand High for Unbuilt Homes in Arbor Trails

As construction finally begins on the future Arbor Trails subdivision of Lisle—the largest such project in Chicagoland since the crash of the housing market—demand for the planned homes is relatively high and Village officials have a positive outlook for how the new subdivision will contribute to the community, the Chicago Tribune reports.

According to the paper, 30 of Arbor Trails’ planned 162 homes (between 2,206-3,937 square feet and from $353K-$543K) are already contracted and interest remains strong; K. Hovnanian Homes division president Andrew Konovodoff told the paper that potential residents have been waiting a long time for the opportunity to own an Arbor Trails house.

Another thing fueling the subdivision’s success so far, the paper suggests: its attractiveness against the alternative of a big-box Meijer store, which was planned for the site in 1998 but dropped after four years of litigation by local homeowners.

The Village sounds relieved at the news. "A couple years ago when [K. Hovnanian] approached us and said they wanted to do 162 units, we looked at each other and said: 'What do you know that we don't?'" Tony Budzikowski, Lisle's director of community and economic development, told the paper.

"[But] even when the development was going through the zoning process, there was considerable interest from people because there hasn't been this kind of product [since the crash.]" 

Read the full story at the Chicago Tribune website.