Some builders are taking a unique approach to respond to the housing crunch in the Triangle – by building small homes on very small lots. The first of these homes was just listed today near downtown Durham for $525,000.
DIMINISHES KEELY. ARTHUR, 5 ON YOUR SIDE. >> SOME BUILDERS ARE TAKING A UNIQUE APPROACH TO RESPONDING TO THE HOUSING CRUNCH IN THE TRIANGLE. THEY’RE BUILDING SMALL HOMES ON VERY SMALL. LOTS. THE BUREAU’S DURHAM REPORTER, SARAH KRUEGER SHOWS US WHY IT COULD BE PART OF THE SOLUTION. >> THE FIRST OF THESE HOMES WAS JUST LISTED TODAY NEAR DOWNTOWN DURHAM. THEY ARE 1200 SQUARE FEET WITH NOT MUCH YARD SPACE. WELL, SOME DISLIKE THIS HIGH-DENSITY. THE BUILDER BELIEVE IT’S NECESSARY TO INCREASE SUPPLY. >> AT THE CORNER OF CLUB AND GREGSON THERE USED TO BE JUST ONE HOUSE. BUT ONCE THIS CONSTRUCTION IS FINISHED, THERE WILL BE FOR SINGLE FAMILY HOMES AND 6 DUPLEX UNITS. CHRIS HODGES OF REDEEMING DEVELOPMENT GROUP IS THE DEVELOPER FOR THE SITE. IT IS A WAY >> TO BRING MORE PRODUCT TO THE MARKET AT. NO, NOT THE HUGE, MASSIVE, YOU KNOW, MCMANSIONS. SO THEY’RE THEY’RE NICE SIZE HOUSES FOR COUPLES ARE SMALL FAMILIES. >> SINGLES, THIS HIGH DENSITY IS POSSIBLE BECAUSE OF SOMETHING CALLED A SMALL LOT OPTION. THE CITY OF DURHAM STARTED ALLOWING HOMES ON LOTS AS SMALL AS 2000 SQUARE FEET IN OCTOBER 2019 DERN’S ROUTE LANDER GROWING CITY DATA FROM THE CITY SHOWS THE SMALL LOT OPTION WAS USED. 43 TIMES IN 2021. WE NEED TO INCREASE 1000 >> YEAH. ABOUT SUPPLY AND MOSTLY IT MAY GET SOME OF THAT. THE HIGH CONCERNS THAT WE’VE GOT. IT’S A GREAT WAY. I THINK TO BREAK INTO THIS MARKET REALTOR, MATT LUNSFORD, BLEVINS SAYS THESE HOMES IN THE TRINITY PARK NEIGHBORHOOD ARE LISTED AT 525,000. EACH. HE ACKNOWLEDGES THEY HAVE GOTTEN SOME CRITICISM ABOUT THE HIGH DENSITY AS SOME FEEL. IT IS OUT OF PLACE FOR THE CHARACTER OF A HISTORIC NEIGHBORHOOD. BUT I THINK WE’RE MEETING TODAY IS WITH PROJECTS LIKE THIS. WE’RE RE IMAGINING WHAT LIVING IN DOWNTOWN DURHAM, AS LIKE, WHICH IS SOMETHING
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