Citadels, Inc., is building an exclusive list of homeowners interested in living in a Citadels community. Citadels, Inc., facilitates groups of interested homeowners and the formation of a non-profit development entity (a district) to purchase land and develop housing.
Why this way? Because nobody wants to spend $60 million on a ‘build it and they will come’ model based on poor assumptions. Instead we facilitate homeowners in a ‘build to suit’ model that gives you more benefits at a lower cost. This is a technology-enabled approach to development, different from the standard model in which developers are exposed to maximum sales risk due to purchasing land first (which raises prices for homeowners). This new approach is much faster and more reflective of members’ needs, especially with regard to innovative options.
How do we do it? People who are seriously seeking a regenerative lifestyle are asked to purchase a membership of approximately $150 in order to join our exclusive list. Once membership levels have reached critical mass, we will ask members to fill out a detailed profile focused on their preferred locations and housing options (garden court homes, row houses, with or without garage, etc.). The aggregate data then informs the detailed planning and design of the first/next community. Only paid members will be included in this step.
As the community forms, Citadels will nominate a steering committee to create a district to sell bonds and gain land control. At this point, you will be asked for your second payment of $5000-$10,000. The soft development of the property will begin the process of getting approvals and creating lots for residential construction. The farm will begin operations shortly after land control is achieved. Citadels’ sister company, Microbial Earth Farms, is committed to creating and operating the regenerative agriculture farm that surrounds and provides for the village.
Membership pricing is focused on resident homeowners. For those interested in supporting better real estate but not wishing to move, we offer the Landlord option (+$100) which makes it clear that you likely would not be moving in immediately but prefer to find a Tenant for at least a temporary period. Citadels will curate a list of potential members who sign up for the tenant membership tier at a discounted price.
Standard memberships (Resident) at $150 refer to a standard building lot of 25′ width. A limited number of Premium lots of 37.5′ (+$200) will be made available. Because of the fixed amount of residential space in the community, this can have the effect of bumping other members further down the list. Only those who indicate their preference for larger lots at time of purchase will have this option.
|Phase 1 Pricing*||Tenant||Co-housing||Resident||Landlord|
|Projected Units Available||240||200||480||230|
|Standard Single Family 25′ wide lot||$25||$150||$150||$250|
|Upgrade to 37.5′ wide lot**||N/A||N/A||+$200||+$200|
Membership generates a ‘First Come – First Serve’ timestamp which is used in the selection of lots offered by the future non-profit development company, the district (Phase 3). Phase 1 Membership purchases should be treated as a non-security: not a contract for real property. Only Phase 1 members will be informed of the future entity which will facilitate the purchase of lots. Only members will be offered the ‘preferences’ survey determining the community makeup/design. Exact pricing of specific lots will be determined by the district in Phase 3. Phase 1 purchase is 100% deductible from lot price. Projected lot prices average $75,000/lot. As an example, lot price plus 1,000 sf of housing at $150/sf comes to $225,000 per unit.
Further options such as apartments (tenants and owners) and live-work-retail units are also available. We are interested in attracting independent business owners, artisans and craftspeople for the live-work-retail spaces. Please contact us to see if your business is a good fit.
Phase 1 is membership. Phase 2 is arranging land control of a particular parcel, where you may opt in for the cost of approximately $5,000-$10,000/membership in the event that a non-profit development corporation is needed to gain land control. Citadels anticipates thousands of communities in this model across the USA in order to deal with the crises of affordability and the climate, so if you choose not to opt in immediately, your timestamp/registration will roll over to the following communities. In Phase 3, the district receives your membership information from Citadels and offers you a selection of lots and home builders.
*All prices subject to change without notice. **At time of purchase only; no upgrades permitted post-purchase. Prices valid as of January 20th, 2020.
All sales final. Memberships are non-refundable and non-transferable. Membership fees are 100% deductible from final lot purchase prices.