“The fourth quarter is traditionally a slower quarter for new home sales, but the 2012 results reflect the increasing strength of the Washington, DC suburban market,” said St. Charles Companies CEO, Alan Shearer.
(PRWEB) January 10, 2013
St. Charles, Maryland completed 2012 with 236 new home sales for the year, a record number of annual home sales for the master planned community. Sales throughout 2012 dramatically outpaced 2011, and the fourth quarter of 2012 continued that trend with 75 contracts signed. The annual results represent a 71% increase over the 138 signed during 2011. St. Charles is the best-selling new home community in Southern Maryland and is considered one of the most successful master planned communities in the country. St. Charles is just 11 miles south of the Capital Beltway and observed its 40th anniversary in 2012.
“The fourth quarter is traditionally a slower quarter for new home sales, but the 2012 results reflect the increasing strength of the Washington, DC suburban market,” said St. Charles Companies CEO, Alan Shearer. Added Shearer, “Our national builders – Lennar and Ryan Homes – continue to deliver high quality homes at very competitive prices. In addition, St. Charles is gaining recognition in the metropolitan area among homebuyers and apartment renters who seek abundant amenities, an authentic sense of community and a wide range of housing options as well as good value. These buyers and renters are recognizing the advantages of a mixed-use community with unique features such as the Regency Furniture Stadium, the new West Waldorf library, and the new St. Charles High School, a state-of-the-art facility scheduled to open in 2014.” New homes in St. Charles have beginning price points in the $200’s for townhomes and $280’s for single family homes.
Also in 2012, Kettler Management, on behalf of the St. Charles Companies, completed the leasing stabilization of the 120- home The Nines at Gleneagles property in St. Charles. The Nines also earned an Excellence in Construction Award from the Associated Builders and Contractors Association in 2012. The apartments are the second of three communities that are planned for the Gleneagles neighborhood and are the fastest leasing apartments in Charles County. The Company plans to begin construction of the third Gleneagles apartment community, which includes an additional 213 apartment homes, in early 2013.
Overall occupancy at the company's portfolio of 2,500 apartments in the St. Charles planned community now stands at approximately 95%, reflecting the popularity and appeal of St. Charles to a wide segment of consumers in the new home and rental housing markets.
In 2013, St. Charles will open the Gleneagles neighborhood center, the ninth in St. Charles. The new center will feature views of the White Plains Golf Course and will include a swimming pool, wading pool, and walking paths that will connect the community center to Charles County's White Plains Park. A second new community center will be constructed in St. Charles’ Fieldside neighborhood this year, where Ryan Homes is building new single homes and townhomes from the $220’s.
In 2014, the new, state of the art, 1,600-student St. Charles High School will open its doors, offering unique educational opportunities to students and the community alike. Built on a 100-acre site donated by The St. Charles Companies, the new facility will include programs on environmental and natural resource management, technology, and current issues related to these fields of study, as well as cutting edge learning experiences such as a digital classroom and “Science on a Sphere.” This feature, co-developed by NASA, provides students with visual instruction about science, the Earth and the environment.
In the past few months, St. Charles was featured in The Washington Post (Lower Prices Draw More Buyers, Renters to St. Charles) and was profiled alongside the Washington area’s top master planned communities in The Washington Times (Master-Planned Towns, Age 50, Innovative Still). In the past year, St. Charles was named by CNN’s Money Magazine as one of the top twenty small cities to live in America and was named by U.S. News and World Report as one of the nation’s top bargains for places to retire. St. Charles is known for its diverse and abundant neighborhoods, lively retail centers, recreational opportunities and excellent schools. St. Charles is home to the Southern Maryland Blue Crabs Atlantic League baseball team at Regency Furniture Stadium, where the 2013 Atlantic League All Star game will be played this July, and the just-unveiled, 30,000 square foot, LEED-certified Waldorf West public library. St. Charles invites you to like us on Facebook at St. Charles MD or visit us at http://www.stcharlesmd.com.
The St. Charles Companies includes American Community Properties Trust, The Apartments of St. Charles, American Land Development and St. Charles Community, LLC. The St. Charles Companies’ lines of business include the residential and commercial development of St. Charles, a 9,100 acre planned community in Charles County, Maryland and the ownership of an operating apartment portfolio of approximately 2,500 units in St. Charles.
Federal Capital Partners (http://www.fcpdc.com) acquired The St. Charles Companies in December 2009 through its FCP Fund I, L.P. Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $3.0 billion in assets since its founding in 1999. FCP is seeking debt and equity investments in commercial and residential real estate throughout the Mid-Atlantic region, including Washington DC, Maryland, Virginia, Pennsylvania, the Carolinas, Delaware, New Jersey and West Virginia. FCP buys assets directly as well as through joint ventures with local operating partners through equity, preferred equity or mezzanine debt investments. The firm, based in Chevy Chase, MD, manages $769 million of discretionary capital. FCP is currently investing its second fund, a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit http://www.fcpdc.com.