APRIL 26, 2015 LAST UPDATED: SUNDAY, APRIL 26, 2015, 4:24
BY KATHLEEN LYNN
STAFF WRITER |
THE RECORD
In Montvale, land is being cleared for a new town house development near the New York State line. In Wood-Ridge, new town houses are rising on an old industrial site. And 150 new town houses are under construction in Allendale.
As the economy and housing market continue to recover in New Jersey and nationwide, these and other projects suggest a renewed interest in the attached, two-story homes. The construction of town houses and other for-sale homes still lags behind the much healthier pace of rental construction in the state, as tough lending standards and memories of the housing crash weigh on many households.
But builders see town houses as a more affordable alternative to single-family homes. Town houses also are more suited than detached homes to the type of development that is dominating North Jersey. Instead of the sprawling, single-family subdivisions of an earlier era, builders now are focusing on so-called infill construction, in walkable, transit-friendly areas closer to New York City.
https://www.northjersey.com/news/business/town-homes-rise-in-north-jersey-1.1319095