Argonne Woods planning to open second set of homes for purchase this spring.
Tuesday, January 22
Argonne Woods, a townhome development on Route 23 in Butler, has announced plans to open a second phase of units this spring. The property is being developed by Badanco Holding Co. LLC and MNB Realty Co. LLC, with the townhomes listed by Weichert New Homes. While some homes are still available in the first phase of the 69-home property, the recent sale of several townhomes prompted the developer to schedule plans to open the second phase. In October, Mounir Badaan of MNB had approached the Butler Council to talk about pursuing a zone overlay to instead rent some of the townhomes, which are sold beginning at $399,900. Badaan had cited the economy as creating difficulty for the developers to sell the units. But in December, Badaan decided …
Argonne Woods hoping to double condo occupancy by adding rental units to property.
The developer of Argonne Woods, a condominium complex on Route 23 in Butler, approached the borough council Tuesday seeking members' blessing before pursuing a zone overlay to convert units intended for purchase into rental properties. In doing so, the developer would be increasing the number of occupancies at the complex from a total of 69 units to more than 120, including the rentals. The economy has had an effect on the condominium business, even as much of the development is still being built, according to developer Mounir Badaan, of MNB Realty Inc., who spoke to the council with his son, Brandon Badaan. The complex has only sold 10 of the 18 completed units, he said. About one unit has sold for every six months since they have been …