The Traverse City Affordable Housing market is a high demand market for Grand Traverse County. The lack of Traverse City Affordable Housing directly correlated between the existing affordable housing home sales and lack of new construction to replenish the low inventory of Traverse City Affordable Housing. Increase demand for Traverse City Affordable Housing from an uptick in population in the Grand County only strains the housing cost. According to a recent Record Eagle report dated May 21, 2016, the Grand Traverse County population increased by 840 people and since 2010 the population in Grand Traverse County increased by 4,672.
Currently only eight (8) new home construction projects designed to accommodate the Traverse City Affordable Housing demands. The Traverse City Affordable Housing criteria are homes under $200,000, 3 Bedrooms, 1 Bathroom minimum. These homes are in high need but low inventory. One development in Grand Traverse County is leading the way to create a solution to the lack of Traverse City Affordable Housing – Glacier Ponds Development.
Glacier Ponds Development is situated in Northeast Green Lake Township of Grand Traverse County. This subdivision is a three-phase development. Phase one has ten (10) lots currently available under $20,000 and affordable housing construction cost starts at $183,000 – includes the cost of the lot. Ranch style-homes in this subdivision are designed with minimum square footage requirements of 1,300 square feet, with either a basement or a crawl space and 24’ x 24’ garage.
Glacier Ponds Development has the capacity to double the current new home Traverse City Affordable Housing market. Immediate start of construction is available and contractors have the resources to meet the demand. To learn more about Glacier Ponds Development contact Ben Williams, Coldwell Banker Schmidt – 522 at (231) 632-7888 or www.LakeLifeRealEstate.com