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RECOMMENDATIONS AND CONCLUSIONS <br />Side -by -Side and Back -to -Back Townhomes — This housing product is designed with three <br />or four or more separate living units in one building and can be built in a variety of <br />configurations. With the relative affordability of these units and multi -level living, side -by- <br />side and back -to -back townhomes have the greatest appeal among entry -level households <br />without children, young families and singles and /or roommates across the age span. <br />However, two -story townhomes would also be attractive to middle- market, move -up, and <br />empty- nester buyers. Many of these buyers want to downsize from a single - family home <br />into maintenance -free housing, many of which will have equity from the sale of their <br />single - family home. <br />Side -by -side townhomes have been slow to recover from the recession. Many of the <br />townhome developments completed last decade in Elk River had many lender- mediated <br />sales and were attractive for real estate investors. Recently there have been a few new <br />townhome developments move forward in the Twin Cities; however they have been <br />located in high demand communities where the single - family market has priced many <br />buyers out of the market. New construction townhomes in Elk River are still premature; <br />but this sector should begin to turn should land costs escalate and buyers are priced out of <br />many new single - family subdivisions. <br />Townhome Examples <br />3 -Plex (one -level living w /basement) <br />Row -house style <br />Back -to -back style (6 -Plex) <br />MAXFIELD RESEARCH & CONSULTING, LLC 104 <br />