“It is important to have a plan, but it is even more important to know when to adjust the plan,” says local developer and contractor Joe Harkleroad.  Brentwood Properties, Inc., the real estate arm of Harkleroad’s construction and development enterprise, is the developer of The Meadows of Cedarville, an 85-unit patio home complex located on the east side of Cedarville. 

“We began installing the street and utilities infrastructure in late 2007 with an eye toward beginning construction on homes in 2008,” Harkleroad explained.  “Several construction delays proved to be fortuitous and kept us from beginning construction in mid-2008 as we had hoped.  When the economic downturn occurred late in 2008, we were not locked in to home construction contracts.  That enabled us to batten down our hatches and re-evaluate our overall plan.”

Part of that re-evaluation included adding a new member to the Meadows of Cedarville team.  Steve Miller, owner and principal of the design company Residentials Unlimited of Greene County, joined came on board early in 2009 to provide ongoing design-based input into the Team’s discussions.  Harkleroad explained that Miller’s company provided design alternatives in response to a prospective buyer’s survey conducted by the project’s marketing arm, Sheridan & Associates.  The design and amenities packages have been modified to better meet current client expectations.

“It all goes back to providing the consumer with what he wants.  We have continued to hear the consumer say, ‘I want quality, but I want to pay less for it.’  We have trimmed some of the least important features of the home designs, but have been careful not to sacrifice the integrity of the overall project.  These are going to be quality homes with built-in efficiency standards that exceed those of the average home being built today.”

Another major shift in thought came when Harkleroad decided to forego the construction of the project’s centerpiece 4,000 square foot Clubhouse facility with an indoor swimming pool.  “We originally thought it was going to be a big selling point for the community, but the new economic realities have made people comfortable with less.  We’re here to please the customer.  Everything is open for discussion.”  That approach has further helped the team to trim monthly Homeowner Association fees.

Whereas the project’s original intent was to build an “empty nester” friendly neighborhood with covenants and restrictions designed to welcome this segment of the population.  Harkleroad explained, “Our intent was never to discourage younger families from building in the Meadows.  Rather, we were seeking to provide a community that was geared toward the fastest growing age demographic in our country.  With the economic downturn, more of those empty nesters are adjusting their homeownership plans, so we found it desirable to expand our vision and to be more inclusive in our sales approach.”

Project Realtor® Bart Sheridan of Sheridan & Associates has been consulting with the project for over two years.  “One the biggest facts all of us in the real estate industry have to accept is that it will take longer to do more today than it did yesterday.  Existing home sales have slowed considerably and many people who desire to build are concerned about the prospects of selling their existing homes.  We still believe in the long term viability of projects like the Meadows, but we all have to adjust our timetables to account for the changing market conditions.”

Harkleroad summed up his perspective on the changed economic landscape:  “Changing times and conditions do not change our commitment to doing things the right way.”  Meanwhile The Meadows of Cedarville hopes to begin construction on its first homes in late 2009.  Visit the Meadows of Cedarville at www.MeadowsofCedarville.com for further information.