Condominium sales in Ridgefield are hot this year, and they are perhaps no hotter than the new Coach Homes 55-and-older project being built on Sunset Lane.
Thirty-nine units have been offered on a pre-construction basis, and of those, 35 units are either under contract or have a binder, said Martin Handshy, a principal in Coach Homes.
“The sales are just unbelievable,” said Handshy, who said the Ridgefield complex is the fastest selling of any of his development company’s projects.
The reason they are selling so fast is pent-up demand, Handshy said. He believes empty-nesters are hungry for a downsizing opportunity in town, to move from a spacious suburban home to a nice condo and be near their friends and family.
He said he has informally polled the people buying his units, and believes for the most part they are longtime Ridgefielders looking to downsize.
The quick sales mean only one thing.
“It speaks to the fact there was a true underlying demand for this kind of housing,”
said Jay Metcalfe, vice president of Charter Group Partners at Ridgefield LLC, who is Handshy’s partner.
The townhome units are 2,500 square-feet and start in the mid-$700,000 range.
The Coach Home units are 1,466 square-feet to 1,741 square-feet and start in the mid-$400,000 range.
So far, the company has not built a single wall. “We broke ground on the land at the end of last month and right now we’re doing the infrastructure work,” Metcalfe said.
A temporary trailer for the construction work should be operating over the next month.
The Coach Homes is located on 10 acres of the former Schlumberger petroleum research laboratories facility. Most of the former Schlumberger buildings have been demolished and the site has been cleaned of contaminants.
While some of the Sclumberger buildings will be reused, perhaps as a Maurice Sendak museum, for example, 30 acres of the property will be used for purposes that are still being explored.
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