FORT WAYNE, Ind. (WANE) – Fort Wayne is known for its affordable living. According to a Fort Wayne realty group, there’s a clientele for buyers who want to purchase homes in the $1 million range.
North Eastern Group Realty has purchased more than 27 acres of land near the 3300 block of Homestead Rd. There was a little hesitation before buying the property.
“We have 59 agents at our office and we got a group of them together to say, hey could this work, is there a market for lots that are going to be priced as high as these are going to be priced because of the land price,” said Kim Ward, a North Eastern Group realtor. “They said, absolutely.”
According to the Upstate Alliance of Realtors Multiple Listing Service, nine homes are currently listed for $950,000 and up. Three homes in that price range sold last year. Besides the need of brand new homes in the million dollar price bracket, agents believe buyers want something new.
“Somebody else might want a brand new house,” said Jodi Skowronek. “They’re tired of all the fixings that needs to happen to a older home.”
North Eastern Group will be working with EE Brandenberger Construction to build these homes.
There have been a few phone calls from potential buyers since the land was purchased.
The Allen County Plan Commission will consider the project soon. If everything goes according to plan, they could start building as soon as August.