One of the country's largest builders of active adult housing recently announced it will expand its attached-product offerings in order to allow for more units on each parcel of land.
Ohio-based Epcon Communities has unveiled a new set of attached duplex and triplex floor plans ranging from 1,546 to 2,464 square feet designed to attract a wider segment of buyers including those in the lucrative 55+ age demographic, the company's main target market. The new models are expected to drive sales velocity, enabling buyers who may have been priced out of other detached home options, says Tim Rini, Epcon's vice president of franchising.
For Epcon franchisees, another positive impact is that the new duplex and triplex home models increase building density, allowing more return per plot of land. The company plans to offer roughly 30% attached and 70% detached homes within a single community, a program that is being tested in an Epcon’s community in the metropolitan Columbus, Ohio, area.
During the past 30 years, the size of the average Epcon community has steadily increased, from 30-home neighborhoods to developments of 50 to 150 homes. As the size of the development opportunities have increased, Epcon plans to offer attached condominium-style housing as a way to offer more home options that appeal to a broader group of buyers, says Tim Rini, Epcon's vice president of franchising.
“The new duplex and triplex attached homes have a lot of advantages for the buyers, as well as our franchise builders,” says Rini. “They’ll have the same luxury look and feel as the rest of our home models. They’ll be the same Epcon quality homes, often at a price point that is attractive to a larger audience of home buyers.”
Epcon’s franchise model has helped it to become one of the largest home builders in the country— No. 38 on the most recent Builder 100 with over $300 million in revenue. The firm provides its franchise builders with architectural plans, marketing materials, scopes of work, vertical and horizontal construction budgets, sample contracts, and other guidance. Its franchisees are responsible for obtaining financing for acquisition, development, and construction of the home; building the home; adapting the plans to local code; and handling the property management and warranty work once the home is built.