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At its model homes at MacIntosh Farms in Broadview Heights, employees of Petros Homes noticed some prospective buyers kept asking for something less expensive than the $275,000-$300,000 homes the company offers there.
Like something in the $240,000 range.
Those queries explain the germination of Ivy Ridge in North Royalton, said Laura Lynn Reising, vice president of sales and marketing for Broadview Heights-based Petros Homes.
The 28-home subdivision is designed to provide three- and four-bedroom homes starting at $234,900, Ms. Reising said. Petros is offering two models in the subdivision, one with a first-floor master bedroom. The homes either are 2,350 or 2,650 square feet.
Mrs. Reising said Petros believes Ivy Ridge can compete with less-pricey home developments in nearby Brunswick and Seven Hills. She said market research by Petros indicates the subdivision can be marketed to first-time home buyers, people moving up from an existing home to their...