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Home My WebLink AboutV.C - Hastings Building Articles Compact design and private outdoor spaces are key components in the plans for the Villas at Pleasant- Hastings, a 32-unit development for active adults set for the northwest corner of Pleasant Drive and Northridge Drive in Hastings. It’s the first Minnesota project for Ohio-based Epcon and Simek Property Group in St. Paul. Top Transactions: New homes, villas create buzz in Hastings By: Anne Bretts February 12, 2021 3:44 pm Editor’s note: The Top Transactions feature focuses on the latest top home sales in the Twin Cities area, as well as noteworthy new listings, new residential developments and housing trends. Finance & Commerce checks certificates of real estate value filed with the Minnesota Department of Revenue as well as data from the Northstar Multiple Listing Service, Realtor.com, county records and other sources. Hastings, a quiet city of about 23,000 near the confluence of the Mississippi, Vermillion, and St. Croix Rivers, issued about 30 building permits for new homes in 2020. That’s about the same as it has been every year, except during the recession, when home construction bottomed out at a half-dozen permits in 2010. City Planner Justin Fortnoy could have his hands full this year, however. Right now the city has approved two developments with a total of 152 new homes — and the majority of them will be aimed at giving empty-nesters new places to land. “We love this city,” said Nick Hackworthy, president of Woodbury-based Creative Homes. Hackworthy is putting the finishing touches on six model homes for the first phase of Heritage Ridge, a development slated to add 60 homes and 60 villas to a 40-acre site along Fallbrook Drive. The plan is to spread the construction over three phases, but that may not happen. The sales office doesn’t open until later this month, but Hackworthy’s team already has 175 names of people interested in buying. Not far away, apartment veteran Stuart Simek, owner of St. Paul-based Simek Property Group, is making a leap into single-family homes for active adults, launching Villas at Pleasant. The 32-unit project is the first Minnesota franchise for Dublin, Ohio-based Epcon, one of the nation’s largest builders of active adult communities. While Epcon is new to Minnesota, Simek already has more than 25 people asking for more information. He plans a kick-off event March 2 with lot reservations March 4 and ground breaking sometime in April. Epcon communities aren’t age-restricted, but are designed to attract adults 55 and older. It has developed more than 30,000 homes in 400 communities in 31 states, including eight in Wisconsin and five in Iowa. Villas at Pleasant will feature 32 single-story homes from 1,500 to 3,000 square feet, with four floorplans and homeowner association fees of about $200 a month. “Since this site is only 10 acres, there was not room for the typical clubhouse, fitness room and outdoor pool,” Simek said. The typical Epcon site is 20-30 acres and will likely be included in future projects, he said. Workers from Woodbury-based Creative Homes are pushing to complete the first six model homes for Heritage Ridge, slated to bring about 60 family homes and 60 villas to Fallbrook Drive in Hastings. (Submitted image: Creative Homes) Why Hastings? Simek said the property offers a great site in an established neighborhood with higher home values, is close to retail and most importantly is one block away from the Hastings Golf Club and Public House. “Lots of potential 55-plus buyers already live and play nearby,” he said. “It’s not your typical green field on the edge of town.” The site originally was zoned for a traditional neighborhood, so it needed to be rezoned to allow for greater density. Villas are detached single-family homes with main floor master suites, limited outdoor space and features to help owners age in place. Many local developers include villas in their communities. Dell Webb, the nation’s largest builder in the active adult category, launched its Minnesota efforts in 2020 with Bellwether in Corcoran. The company’s age-restricted communities have 13 floor plans, with prices range from $336,990 to $479,990. Amenities include pools, fitness centers and pickleball courts. It is scheduled to open a similar community, named Adelwood, in Chaska this spring. Simek is one of 55 franchise builders across the country developing Epcon communities. He’s working with Cory Kochendorfer of COEUR Real Estate Group to market Villas at Pleasant. Hackworthy says that, thanks to remote work and school options, many buyers are considering small towns and rural developments. “We’re seeing that in all our neighborhoods,” he said. “It’s been nuts,” he said. For Fortnoy, it won’t get nuts until permits get filed. If all goes well, the villas will help local baby boomers downsize without moving away. The idea is to add existing family homes to the new ones being built and bring more people to the community. “That’s what we’re looking for,” he said. 3/5/2021 Single-family homebuilding surges 32% in Twin Cities - StarTribune.com https://www.startribune.com/single-family-homebuilding-surges-32-in-twin-cities/600029109/1/2 BUSINESS Single-family homebuilding surges 32% in Twin Cities Twin Cities single-family home construction rise 32% from February 2020. By Jim Buchta (https://www.startribune.com/jim-buchta/6370612/) Star Tribune MARCH 1, 2021 — 5:23PM Housing construction in the Twin Cities metro during February was up sharply for the second month in a row. Builders and developers in the Twin Cities were issued 558 permits to build 946 units during February, according to data compiled by the Keystone Report for Housing First Minnesota. That included 536 permits to build single-family houses, a 32% increase over last year at the same time. Multifamily construction, mostly market-rate rentals, was down by 16% to 410 planned units. Gains in single-family construction so far this winter have been driven by near-record low mortgage rates and a shortage of existing homes for sale at a time when many buyers are looking to trade up from their rental or starter home. The pandemic has helped fuel that demand. "Building a new home has an increased appeal to individuals and families who have been looking to get into the market for the first time, or are finding their current home no longer fits their needs," said Todd Polifka, 2021 president of Housing First Minnesota, in a statement. He and other builders said being housebound during the pandemic is forcing Twin Citians to re-evaluate how and where they live and in many cases that means homeowners are accelerating their plans to either upsize or, in the case of many baby boomers, to downsize to a house that fits the next stage of their lives. "I'm ecstatic at the amount of interest I'm getting at this point," said Stuart Simek, a Twin Cities developer who is about to start site work on a subdivision in Hastings aimed at people who are 55 and older. Lot reservations began only this week and presales won't start until spring, but he's already overwhelmed by the number of clicks he's getting on the web page for the Villas at Pleasant in Hastings. The project will have 32 houses from 1,500 to 3,000 square feet on a 10-acre site. RENDERING BY EPCON/SIMEK PROPERTY GROUP Stuart Simek is about to start site work on a subdivision in Hastings that’s aimed at people who are 55 and older. He’s already overwelmed 3/5/2021 Single-family homebuilding surges 32% in Twin Cities - StarTribune.com https://www.startribune.com/single-family-homebuilding-surges-32-in-twin-cities/600029109/2/2 Simek is partnering with Ohio-based Epcon on the project and said he expects the project to sell out well ahead of schedule in less than a year. With prices that start at $400,000, single-level floor plans and compact yards, he expects the project to appeal to people looking to downsize. "My biggest concern is our capacity to meet demand," he said. "There's a ton of demand and a lack of supply." Simek, owner of Simek Property Group, also owns and manages more than 350 apartment units throughout the Minneapolis-St. Paul area. He said demand for urban rentals has softened, but that's not the case in many suburbs. Marquette Advisors said last month that while the average apartment vacancy rate across the metro had increased slightly, there were several suburbs where the vacancy rate was still in the low single digits. In downtown Minneapolis, which has accounted for the bulk of the apartment construction over the past several years, the average vacancy rate is hovering near double digits. The top cities for construction last month were Shakopee, where a 138-unit project was permitted, and Minneapolis, where Yellow Tree Construction pulled a permit to build a 77-unit project. Jim Buchta • 612-673-7376 Jim Buchta has covered real estate for the Star Tribune for several years. He also has covered energy, small business, consumer affairs and travel. jim.buchta@startribune.com 612-673-7376 ADVERTISEMENT