When Parag and Jaya Joshi heard about a new residential community being built in Mason, they decided to play the lottery.
Not the mega-millions kind. The Joshis have the money. Rather, they were among dozens of hopeful homebuyers Saturday vying for one of 28 new homes in M/I Homes’ new Alverta community.
“We’re looking for a larger house and wanted to stay in Mason,” said Jaya Joshi. “In Mason there is hardly any new development going on.”
Indeed, the planned 125-home community on 52 acres at the southeast corner of Mason-Montgomery and Western Row roads is one of the last opportunities for new homebuyers, said sales representative Laura Kornaker.
- Photos: Alverta development
Sales representatives have met with more than 550 prospective buyers since the company began marketing the development in May, she said.
That prompted the company to hold a lottery — a fairer process than having homeowners camp out in the cold, company officials say.
More than 30 prospective buyers entered their name into a brass raffle drum for a chance to purchase one of 28 homes in the development’s first phase.
No. 23 Marche and Mica James say that while the lottery was an unusual way to buy a home, the process was fair.
“My husband and I were joking that it was like elementary all over again; we never get picked for the drawings,” said Marche with a laugh.
Homes in Alverta start at $320,000 and range from 2,200 to 3,800 square feet. Construction is expected to begin in January with the first homes ready for occupancy by early summer, said Dan Tartabini, the company’s vice president of sales and marketing.
Alverta will feature a mix of two-story and ranch single-family homes as well as smaller “neo-traditional” houses, which feature garages at the rear of the lot accessed by an alleyway.
Development plans include 12 acres of green space, an eight-acre community park, walking trails, tree-lined streets, landscaping and two ponds.
The community’s location in the heart of Mason on the site of the former Western Row Golf Course is what drew Feng Huang and his wife Sabrina Xie to Saturday’s lottery.
“I think the location is great,” he said. “It’s Mason schools and it’s very close to the Mason Community Center. Also, for our kids, it’s closer to their daycare.”
Matt and Victoria Anderson drew the lucky No. 1 spot. They chose a lot that backs up to 40 feet of green space.
“We just moved from Kansas City and we don’t know how long we’re going to be in the Cincinnati area,” said Matt. “Mason is a nice school district and has good resale value.”
The Joshis, whose name wasn’t called, said they were disappointed, but vowed to try again.
“We’ll wait for phase two and we’ll keep looking for anything that comes into the market,” said Jaya Joshi.