After Years of Wrangling, Models Open at Village Vistas

After seven years of planning, debating, and legal wrangling, The Northwind Group headed by Jimmy Tsunis and his partner Enrico Scarda has just opened their model units of Village Vistas at the Liberty Meadows site. Last weekend, the official opening saw more than 60 people shuffle through the pristine new 55 and older housing development.

"Construction has been very smooth," said Tsunis. "We are concentrating on looking forward and are happy with the positive interest we're receiving."

With prices starting at $799,000, Tsunis has already contracted 13 units, with a total of 43 scheduled to be completed over the course of the next two years. The units are mainly 2 bedrooms plus a loft (an option is available to convert space to a third bedroom). Builder incentives are being offered to the first 20 buyers. Delivery of the first completed unit is slated for September 2011, with a pool, a clubhouse and the remaining units to follow.

Tsunis, who says he has specialized in the growing need for senior housing since 2003, sees the 55 and older demographic to be the safest niche in the real estate market. Though initially he thought his target buyer would be insulated from the effects of the downturn of the real estate market, he says this economic downturn seems to have affected everyone.

"We’ve learned a lot," said Tsunis. "Many of our buyers rely on their 401k’s which have seen major losses."

In response to the declining market, he says they have had to lower their prices approximately 10 to 15 percent and are building at a slower pace than they originally anticipated.

Overall, however, he sees the seven years spent haggling with village, Town and environmental groups as a blessing.

"I used that time to design a better interior which has resulted in a superior product overall," Tsunis said. "I also think that our timing is good, as the real estate market is now rebuilding."

The Northwind Group plans to keep the models open each weekend through February and will extend the hours in the spring.

Amanda Eckart is a licensed Sales Person with Realty Connect USA and Port Jefferson resident.  She has over 12 years of experience assisting home buyers and sellers. She can be reached at 631-404-2215  or by email at aeckart@realtyconnectusa.com. Also on the web www.thedownport.com