Ground Broken on Lisle's New Arbor Trails Subdivision

The following is a press release from Coldwell Banker Residential Brokerage:

Today [Tuesday, June 11, 2013,] K. Hovnanian Homes broke ground on Arbor Trails, a new 162 home subdivision in Lisle, located along Maple Avenue just west of Benedictine University and east of Green Trails Shopping Center. The company closed on the property in March of this year and selected Coldwell Banker Residential Brokerage as the exclusive brokerage to represent the development.   The Grand Opening event, held the first weekend in April for the public, was largely successful indicating a fierce comeback for new construction.

“The response from potential home buyers has been outstanding, “said Ray Blankenship, area vice president for K. Hovnanian Homes.  “On Grand Opening weekend we released eighteen sites that sold out immediately, and placed an additional 300 names on the waiting list.”

Coldwell Banker Residential Brokerage has a long standing relationship with K. Hovnanian Homes having represented all of the company’s new construction projects to date.  According to Dick Greenwood, Director of Builder Marketing for Coldwell Banker Residential Brokerage and current board member of the Chicago Homebuilder’s Association, the real estate market has returned to levels we have not seen in years.

“Arbor Trails is the first major new subdivision in the Chicagoland area since 2007 where raw land has been purchased and streets, sewer, water and utilities are being installed,” said Greenwood.  “Needless to say, this is a major financial commitment and one that could only be done in a strong, healthy market.” 

According to a recent survey conducted by RISmedia and Dennis Walsh & Associates, 90 percent of prospective buyers have included new construction homes in their search this past year.  New construction homes appeal to buyers for many reasons, with some of the key factors being ease of maintenance, personalization options and benefits of modern design features.  It can also be said that the recent surge in new builds can be partly attributed to the demand for housing in a market that is experiencing unusually low inventory levels.

The Arbor Trails community will feature two story homes with eleven floor plan variations featured across two series of homes, the larger Americana series and the smaller Heritage series.  The homes will range from approximately 2,200 to 3,900 square feet and are priced between $242,995 and $532,995 accordingly.  The site is located within minutes to shopping, dining, parks, golf courses, forest preserves, the Surrey Ridge Sports Complex, and great schools.  Home buyers are drawn to the neighborhood not only for its convenient location, but also for added value on-site features such as a park, walking and biking paths and ponds. 

The project is slated for completion by fall of 2016, with the first phase of homes set to be started this upcoming fall.  The next site release will take place within the next thirty days, and it is still undetermined how many lots will be available at that time.

For more information on the availability of homes for sale contact Alice Chin, Broker with Coldwell Banker Residential Brokerage’s Naperville Office and Representative for Arbor Trails, at (630) 854-3725 oralice.chin@cbexchange.com.

About Coldwell Banker Residential Brokerage

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company serving Chicagoland, Northwest Indiana, Southeast Wisconsin and Southwest Michigan, operates 51 offices with 3,250 sales associates. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices. For more information, please visitwww.coldwellbankeronline.com 

About Hovnanian Enterprises®

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey. The Company is one of the nation's largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The Company's homes are marketed and sold under the trade names K. Hovnanian® Homes®, Matzel & Mumford, Brighton Homes, Parkwood Builders, Town & Country Homes and Oster Homes. As the developer of K. Hovnanian's® Four Seasons communities, the Company is also one of the nation's largest builders of active adult homes.