Robertson Brothers Homes feeds millennial hunger for ownership with townhouses (Bloomberg Market)

"While competing developers focus on pricier single-family homes, Jim Clarke is building townhouses for cash-strapped millennials. And the units are going fast. Almost a third of Robertson Brothers Homes’ projects are for townhouses, compared with zero a few years ago, said Clarke, president of the closely held builder, based near Detroit. The 37-home Sherman Oaks development opened for sales a year ago, walking distance from the thriving downtown in Royal Oak, Michigan, and it’s almost sold out. Now the company is starting three more projects, Clarke said. “Millennials are underserved,” he said. “The only way to get affordable housing built in a lot of these areas is by attaching it.” Click Here to Continue Reading