Developers offer townhouses to millennials hungry for ownership
They are now popular in the US among young indebted buyers
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WHILE competing developers focus on pricier single-family homes, Jim Clarke is building townhouses for cash-strapped millennials. And the units are going fast.
Almost a third of Robertson Brothers Homes' projects are for townhouses, compared with zero a few years ago, said Mr Clarke, president of the closely held builder, based near Detroit. The 37-home Sherman Oaks development opened for sale a year ago, walking distance from the thriving downtown in Royal Oak, Michigan, and it's almost sold out. Now the company is starting three more projects, Mr Clarke said.
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