Location Lures Buyers

One doesn’t have to look too long to be told, “It’s a buyer’s market” in metro Detroit real estate. But once they’ve determined what they want to spend, buyers focus on amenities, and SkyLofts MarketSquare in downtown Royal Oak offers a package like no other.

“The people I see have looked at every development in town,” said New Homes Manager Michelle Harrier. “They ask sharp questions and they pay attention to the details. But what is it they say at Syms? ‘An educated consumer is our best customer.’ All the important things they want are included in the package here.”

Prices at MarketSquare begin in the $220s. All lofts are fully built out with what were initially upgrades, including granite countertops, stainless steel appliances and hardwood or bamboo floors, and each of the lofts includes a fireplace. The fact that all of the lofts are finished means that buyers won’t be tripping over construction crews, Harrier pointed out. They can also obtain a mortgage that covers the complete cost of the loft. When buying an unfinished space, buyers often have to pay up-front for their upgrade selections.

MarketSquare is one of the few developments in Royal Oak in offering not just covered parking, but an enclosed, secure, heated garage. One indoor and one outdoor parking space are included with each loft, and there are 23 visitor spaces to accommodate resident’s guests.

“We have standard features that cost extra elsewhere,” Harrier said. “Kitchen island? Standard. Storage locker, private balcony or terrace, washer and dryer? Ditto.”

While independent shoppers respond to MarketSquare’s bright, black, red and yellow billboards and signage, several recent sales have come through Realtors.

“Often we see them working with first-time buyers, who are overwhelmed by everything out there,” Harrier said. “The Realtors really know the market. They’ve done the math. They’ve evaluated the amenities and the price per square foot. Then they remind their clients of the first three rules of real estate: Location, location, location.”

SkyLofts MarketSquare residents live two blocks east of Main Street’s traffic and late-night noise, but are still within easy walking distance of downtown restaurants, coffee shops and culture. It is a mile from I-75 and I-696, giving easy access to the rest of the region and for those at-home chefs, it’s just across the street from the historic Royal Oak Farmers Market.

Founded in 1993, Morningside Group is a real estate development firm that specializes in creating premier mixed-use and multi-family developments in urban locations throughout the Midwest. Long recognized as a leader in the design and construction of highly acclaimed buildings, Morningside Group has built an enviable track record of successful public-private partnerships.

Morningside’s incomparable work ensures that each new development will join a growing portfolio of prized buildings which includes, in Michigan, SkyLofts Royal Oak, and Liberty Lofts in Ann Arbor and, in Illinois, Arbor Court and Prairie Town Center in Oak Lawn, Crescent Court and Museum Square in Elmhurst, Morningside Square in Downers Grove, The Glen Astor in Glen Ellyn and buildings in Evanston and Skokie.

Click here to visit the SkyLofts MarketSquare website!

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