Case Study: James Place

For Mark Built Homes, we positioned and marketed James Place, an age-targeted community in Morristown featuring 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:

  • James Place is New Jersey’s best-selling age-targeted townhome community.
  • It commands 70+ percent of the new and resale market in its price range.
  • There’s a 60 percent conversion rate, averaging 6 sales per month.
  • There also have been 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.