By Leslie Blevins
There has been a lot of certainty lately about what homes at Village Farms will cost. Too much certainty compared to what the facts actually show.
Project opponents continue repeating that every home in the development will “start at $740,000,” as if that number is locked in, guaranteed, and unavoidable. It isn’t.
The $740,000 hypothetical figure being cited comes from a fiscal modeling assumption for a hypothetical average 1,740 sq ft home used in an economic analysis — not from a builder price sheet. The modeling assumption itself states that medium-density homes are projected at an AVERAGE sales price of $740,000 not starting sales price.
But that number was used to estimate tax revenue. It was NOT a declaration of a minimum sales price. There is a big difference between a modeling input and a market reality.
The truth is, we do not know what homes will cost in five to ten years when these units are actually built. Construction costs fluctuate. Interest rates change. The economy shifts. Lending standards evolve. Labor markets tighten and loosen. Anyone claiming certainty about 2029 home prices is speculating.
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