East West Craggy will develop Asheville’s only major subdivision of 45 green built homes in an urban low impact development, following the approval by the Asheville City Council this week. Construction of new homes is expected to begin in Spring 2015.
“This is a next generation neighborhood, where people who care about green living will feel inspired to live.” said Brian Nelson, Managing Partner of East West Capital. “It’s about community, nature and walkability. This is a new urban experience, not just about the car.”
Craggy Park, in the heart of West Asheville, is just a short walk to entertainment, restaurants and shops. The project’s design includes clustered homes, resulting in significant green space and saved trees, walking trails, and innovative storm water design with rain gardens. Homes will include 3 and 4 bedrooms, many with finished walk-out basements. A community garden and streamside path are integrated in the design.
“We are thrilled by the city’s vote of confidence,” said David Moritz, Managing Partner of East West Capital. “Our plans carefully balance the environmental, community and economic realities of urban in fill development in Asheville. We look forward to providing homes to families who wish to live in this wonderful area.”
As an established and thriving neighborhood, just minutes to downtown Asheville and to the Great Smokey Mountains, West Asheville is experiencing a shortage of ready-to-build lots and there is buyer demand for homes. There is less than 3 months supply of homes, with only 2 new certified green built homes currently available in West Asheville. Less than 6 months housing supply is generally considered a shortage.
Mike Figura, Owner of Mosaic Realty and member of the development team, said, “There is no other community like this. This beautiful neighborhood will serve growing market demand. Buyers want new green built homes.”
The Craggy Park project is located on the largest single-family site in West Asheville. It results from the unique combination of several parcels for over 8 acres in total. East West Craggy also committed to dedicate an easement to the City of Asheville for a walking trail along the development’s stream to connect to a beautiful and protected wooded adjacent 8 acre natural area. The trail could connect to a larger greenway, and ultimately to Asheville’s River Arts District.
“The City has signaled that it values innovative and responsible development, especially in approaching urban infill sites,” said Jody Goukas, Founder and President of JAG Construction and a member of the development team. “Successful development can be aligned with green design and community values.”