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Affordable Homes in Leelanau County: Developer

Leelanau County’s High Housing Prices

Last year, the average sale price for a house in Leelanau County reached a staggering $760,000. With such high prices, many potential homebuyers in the area are left feeling priced out of the market. Local developer Corey Flaska has recognized this issue and has come up with a potential solution: smaller houses on smaller lots. By implementing this strategy in his newest project, Cedar Cove Estates, Flaska aims to bring mid-priced homes back to Leelanau County.

The Cedar Cove Estates Model

Flaska’s Cedar Cove Estates development focuses on building smaller homes on smaller lots to offer more affordable housing options for potential homebuyers. By utilizing this approach, Flaska managed to bring homes to market for less than $430,000 – a price point that has become increasingly rare in the area. While this project may not be as profitable as building more expensive homes on one-acre lots, Flaska believes that the smaller lot, smaller house, smaller price approach can help address the high housing prices in Leelanau County.

Can Other Developers Follow Suit?

Flaska hopes that his Cedar Cove Estates project can serve as a case study for other developers who wish to tackle the issue of high housing prices in the area. By adopting the smaller lot, smaller house, smaller price approach, other builders can also contribute to making Leelanau County’s housing market more accessible to a wider range of potential homebuyers. However, this approach may not be suitable for all developers, as some may prioritize profit margins over affordability.

Addressing Leelanau County’s Housing Price Problem

While Flaska’s Cedar Cove Estates project is a step in the right direction, it is important to note that addressing the high housing prices in Leelanau County will likely require a multifaceted approach. In addition to encouraging developers to build smaller homes on smaller lots, other strategies may be necessary, such as:

  • Implementing zoning changes to allow for more diverse housing options
  • Offering incentives for developers to build affordable housing
  • Increasing the supply of rental properties to alleviate pressure on the housing market
  • Investing in infrastructure and public transportation to support growth in more affordable areas

By pursuing a combination of these strategies, Leelanau County can work towards creating a more balanced and inclusive housing market for all of its residents.

Conclusion

Leelanau County’s high housing prices have created a challenging market for potential homebuyers. Local developer Corey Flaska’s Cedar Cove Estates project, which focuses on building smaller houses on smaller lots, offers a potential solution to this problem. While this approach may not be as profitable for developers, it can help make the housing market more accessible to a wider range of buyers. Ultimately, addressing Leelanau County’s housing price problem will require a multifaceted approach that includes zoning changes, incentives for affordable housing development, and investments in infrastructure and public transportation.