Citadels is building an exclusive list of interested homeowners wanting the option of building a home in a Citadels community. Citadels does not build communities, but instead facilitates groups of interested homeowners. It is those homeowners who then form a non-profit development entity from which to purchase lots.
Why this way? Because we can’t afford to spend $60 million on the wrong piece of land in a ‘build it and they will come’ model. Instead we facilitate members/homeowners in a ‘build to suit’ model that gives you more benefits and a lower cost. This is a technology enabled approach to development as compared to the much older development model of buying the land first and having the maximum sales risk. This new approach is much faster and more beneficial, especially when introducing innovative options.
How do we do it? Serious homeowners wanting a regenerative lifestyle are asked to purchase a membership of approximately $150 in order to join our exclusive list. Then, for each member, a detailed profile focused on the ideal locations, deal-breaker locations etc., and preferred housing options is built. This questionnaire is sent to you after you sign up with a purchase of membership here. The aggregate data then informs Citadels about where critical mass is forming for the first/next community. Only people that have purchased a membership will be invited to form the new community.
Once a community starts forming, a municipal district will be formed (with 5-10 elected directors you vote for) to sell bonds and get land control. At this point, you would be asked for your second investment of approximately $5000-$10000. The soft development of the property will begin the process of getting approvals and creating the lots for residential construction. The farm will start immediately after land control.
Soft Development refers to activities such as the work of the planners, master steward/farmer, and filing papers with the school district, county officials etc. These are all things necessary to create the paper lots which you can then buy. That starts the process of building the hard infrastructure and choosing home builders.
Membership pricing is focused on resident home-owners. 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 living there and prefer a tenant. Citadels will curate a list of potential members who sign up for tenant membership tier at a discounted price.
Standard memberships (Resident) at $150 refer to a standard building lot of 25′ widths. A limited number of Premium lots of 37.5′ (+$200) maybe made available by the district. 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 to those who indicate their preference for larger lots at time of purchase will be honored.
|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 exclusively used in the selection of lots offered by the future non-profit development company in Phase 3. Phase 1 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. Pricing of lots will be determined by the development company in Phase 3. Phase 1 purchase is 100% deductible from lot price. Projected lot prices average $75,000/lot. As an example, lot prices plus 1,000 sf of housing at $150/sf comes to $225,000 per unit.
More options such as apartments (tenants and owners) and live-work-retail are coming. We are interested in 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 climate crisis, so if you choose not to opt-in immediately, your timestamp/registration will roll over to the following communities. In Phase 3, the non-profit development corporation receives your membership information from Citadels and offers you a selection of lots, lot purchases, and selection of home builder.
*All prices subject to change without notice. **At time of purchase only, no upgrades permitted post-purchase. Prices valid as of January 20th, 2020.