Ivy Quad is one of several new developments building condominiums and townhouses near the University of Notre Dame, and the first I’ll profile in what I plan to write as a series on the various projects building housing around campus.
It is east of and adjacent to campus, on Twyckenham Drive across from the Eck Tennis Pavillion.
Here are a few candid and never retouched photos I took on January 3rd. The grass shown is the Quad in the siteplan above.
As you can see, phase 1 is mostly built. There are two units left in the “drywall stage” so that the buyers can select their own cabinets, colors and other finishes. They’ll take about six weeks to complete once sold. The developer told me he has closed 21 sales and has one contract that hasn’t yet closed. Here are the closed sales that I have independently confirmed in the county’s public records:
- 18424 Killeen Ct in May of 2009 for $238,765
- 18426 Killeen Ct in June 2009 for $222,840
- 18430 Killeen Ct in July 2009 for $261,100
- 18420 Killeen Ct in August 2009 for 246,445
- 18428 Killeen Ct in March 2010 for $320,000 / $100,000 in personal property
- 18414 Killeen Ct in May 2010 for $385,000
- 18418 Killeen Ct in May 2010 for $385,000
- 18428 Killeen Ct (again) in June 2010 for $350,000 / $25,000 in personal property
- 18422 Killeen Ct in July 2010 for $375,000
- 18408 Killeen Ct in July 2010 for $268,476.87
- 18421 Tulla Ct in August 2010 for $254,000
- 18425 Tulla Ct in August 2010 for $270,000
- 18417 Tulla Ct in August 2010 for $388,345
- 18416 Killeen Ct in September 2010 for $487,689.01 / $10,000 in personal property
- 18412 Killeen Ct in October 2010 for $236,660 / $5,000 in personal property
- 18415 Tulla Ct in November 2010 for $389,800 / $70,000 in personal property
That’s about $5 million in confirmed, closed sales. I also have copies of another 4 deeds, indicating closed sales, but I don’t yet have the sales prices. So, whether you use my confirmed number of 19 closed sales, or the developer’s 21, I think you can call phase 1 a success. It’s mostly built and mostly sold.
Plans call for the construction of phase 2 to begin in February. It will consist of 18 units in three buildings. The plans have been tweaked for phase 2: the smaller units are gone – now they will have 4 bedrooms and 3.5 or 4.5 baths and a different floor plan than earlier units. I’m told prices for phase 2 units will start in the low or mid $300’s.
Phase 3 is currently slated for 2012.
Depending how you calculate, Ivy Qad is about 1/3 complete: one of three phases is nearly done and at least 19 of 60 units have sold at prices from the $230s to almost $500k.
At this point I’d call Ivy Quad viable. While the plans may continue to be adjusted as future phases are built, you can get a clear sense of what the community will feel like upon completion. And even if construction stopped now, Ivy Quad should work as a community with continuing appeal. It’s important to understand how long construction might continue around you, both for noise issues and because it is difficult to resell if you are competing against the builder selling brand new units. But now, it’s probably more important to compare the costs, covenants, location, floorplans and other facets of the development with the other communities near Notre Dame.
If you’re looking at homes near Notre Dame, I’d like to hear from you. After a quick chat or exchange of e-mails to help you understand your options, we can see if there’s a way for me to help you. I try to make these posts informative and useful, but I hope you’ll take note of this very smart, if generic, advice. Do your research before you part with your money, even if it’s not by calling me.