The project was made possible in part by multifamily tax exemption mandates and Barkley Village’s recent designation as an urban village.

The developer’s co-ownership framework will allow owners to build equity with individual mortgages and exit rights while sharing communal living spaces, like kitchens, living rooms and parking.

The community also has an on-site playground, half-court basketball court, picnic areas, walking paths and green spaces.

The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022. 

LGI Homes celebrated the grand opening of Shelm Meadows, a new-home community located southeast of Olympia in Yelm.

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

The upside surprise came despite monthly and yearly declines in the pace of sales. 

Plans include 26,000 square feet of retail and commercial space and 796 apartments.

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

The organization issued a statement in support of the pro-development campaign at its annual meeting in Tampa. 

Homebuilder sentiment recently reached its third-lowest level since 2012. 

Merit Homes won a Gold Award — the highest honor — for Best Multifamily Housing Community, 30 to 60 Dwelling Units per Acre, for Bloom – Rose Hill in Kirkland.

The 25 residences located within The Sunset District will be priced from $1.45 million to over $3 million. Homes will range from 1,210 to 2,800 square feet.