Plote Homes wants to rebrand the Coves and build single-family homes rather than townhomes as originally planned in the third phase of the subdivision.
Ryan Trottier, vice president of land development, unveiled designs for 106 single-family homes this week, which is a reduction from the 159 townhomes Plote had planned to build in the Coves III.
“We are trying to rebrand it here, start fresh,” Trottier said.
The Coves subdivision was originally annexed into the village limits in 1999 and the East Dundee developer began building townhomes in 2004. But the company is seeing more of a market for single-family homes, he said.
Trottier said Plote has not finalized the price but expects it will be in the $250,000 to $300,000 range. The price is higher than neighborhood towns but he said Algonquin has a lot more to offer. It may also decide to sell the land to other developers who would set the price point, he said.
“We are starting to see fundamental improvements, we think we can push the price a little bit more in this area,” Trottier said.
Plote needs permission from the village to amend its plans but trustees did not have any objections but had one specific condition, the developer needs to include ranch homes in the subdivision.
“I really hope you don’t sell this and you build it,” Village President John Schmitt said. “We have been very pleased with your efforts in this community.”