HomeMy WebLinkAboutPowerPoint Beazer 07-27-17PUD: Negative Impact
on Single Family Home Values
Numbers Game for Seller and Beazer
"(We) are obliged late in our lives to do the best we can to maximize the return on our ancestors' investment of money." Mark Brennan – IndyStar.com, June 15, 2017.
Beazer acknowledged at Sue Finkam meeting that it needs the property to be rezoned from R1 to PUD in order to make age restricted development financially viable, otherwise it will “walk
away.”
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PUD: Negative Impact
on Single Family Home Values
2011 MetLife/National Association of Home Builders Study on “Empty Nester” Communities
Empty nesters favor communities with amenities (community center, fitness center, golf course, etc.)
Empty nesters avoid heavy street noise
Beazer PUD not the right location for empty nester development
No amenities
Built along Keystone Ave. = heavy street noise
2
PUD: Negative Impact
on Single Family Home Values
75% of Beazer development = duplexes (122)
No prohibition on purchasing for use as rental property
Limited design/plan options
Monotony
Every other home can have the same floor plan with same elevation and same color (as defined by more than 50% overlap)
Backside of several duplexes face Keystone Ave.
100% of connected neighborhoods = single family homes
Custom design homes
Established trees in yards
All surrounding homes a single-family residential (R1)
3
PUD: Negative Impact
on Single Family Home Values
Comparison of home values
Beazer duplexes = start at $220,000
Smokey Ridge listings on Realtor.com = $497,500 to $567,500
Beazer PUD does not fit into the intent and scheme of the surrounding area
Evident by long-standing R1 zoning
163 homes into 59 acres = trying to fit square peg in round hole
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