Case Study: James Place – Morristown, NJ

For Mark Built Homes, we positioned and marketed James Place, an age-targeted community in Morristown featuring 92 garage townhomes with the average sales price of $650,000.

The Challenges:

  • New Jersey townhomes typically have basements and James Place did not.
  • The community is located only 100 yards from one of the most heavily trafficked highways in New Jersey with the telltale “whoosh” of vehicles audible.
  • The project had been approved as an age-restricted community with very large (4000 SF+) units.

The Strategy:

  • Research showed that move-down buyers were underserved in the local market and wanted a home 25% smaller than their current home and preferred a non-age restricted community.
  • We encouraged the developer to petition the municipality for the removal of the age-restricted designation and this was successfully achieved.Using the existing approved footprint, we redesigned and reduced townhome sizes by 25%-40%.We designed the townhomes to a price point so that these buyers could sell their current single family homes, buy these, and still have 20-30 percent equity left over.We designed compelling on-site signage, and also reached out to potential buyers through color ads, e-blasts and a James Place webpage with an online brochure.Key messages emphasized the unit layouts that created the feel of a single family home, from decks and patios to generous storage on living levels.We included one home design with two owners suites for multigenerational living.Sales appointments were offered only to prequalified buyers.

The Results:

  • During its sales life, James Place was New Jersey’s best-selling age-targeted townhome community, commanding 70+ percent of the new and resale market in its price range.
  • Achieved a 60 percent conversion rate, averaging 6 sales per month.
  • Multiple price increases with no incentives or concessions.
  • James Place is the winner of more than a dozen NJ Builders Association Sales and Marketing Awards, including NAHB 50+ Gold Award for Marketing Innovation, and NJBA’s, Best Big Idea Award—Marketing Strategy, Best Logo, Best Brochure, Best e-brochure, best website, best color ad and best black-and-white ad.

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