The demand for home builders and developers is high in Houston, Texas, as a result of Hurricane Harvey's damaging effects. For one family-owned building group, the market's climate expedited the launch of their new company, while other builders worry about overcommitting.
Frankel Building Group co-president told The Houston Chronicle, "For the longest time people have told us that they love what we do but wish we offered something at a lower price point ... We didn't think we'd be coming to market so soon. People we know need houses now. They don't want to spend six months in design."
The new company allows the Frankel brothers a way to tap into a demographic more like their own: Generation X buyers looking for a well-designed home from a luxury builder but at a lower price. The new homes will be priced at around $175 per square foot, not including the land. Unlike custom homes, the costs won't vary throughout the process.
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