Admittedly, I haven’t been very kind toward the Huxton townhomes development on the northwest corner of Broadway and Elm Avenue in Downtown Long Beach. However there was one thing I was particularly supportive of: Irvine-based City Ventures, the developer behind the oddly placed project, said that the units would have a price tag of around $400,000.
For an all-electric, single-family townhouse (with a garage!), I thought this was catering to a need that other developments, particularly the excessive amount of luxury rentals, lacked: The ability to provide a middle-class family a to-own space in the heart of Downtown that wasn’t half a million dollars.
Then there were other benefits: Sure, I felt and still feel its height was inappropriate for the space, especially considering the towering Broadway Block project going up next door to it, but the townhomes were placed in a walkable neighborhood that was likely inaccessible for these families otherwise. There were transit benefits: If one spouse worked, let’s say, in Downtown Los Angeles and the other in Irvine, one could take transit while the other can drive. There were pseudo-green benefits: The 40, four-story townhouses are solar-powered, all-electric living spaces and even include an electric car charging systems in the garages.
It seemed like a good deal.
Then, as construction furthered, a sign proclaimed the units would start in the 500s price bracket. Then, again, the price crept up in June of last year, with advertising showing units in the 600s. Then the 700s. And now, a 1,932-square-foot, all-electric townhouse at the Huxton is going for $807,990.
In the span of two years, the prices of these spaces have doubled—because that’s healthy for keeping a stable market.
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