ST. CHARLES SELLS 200TH NEW HOME IN 2012

Wednesday, November 28, 2012

Strong Performance Continues to Set the Pace for Southern Maryland Home Sales

Participating builders in St. Charles, Maryland this weekend executed their 200th contract for a new home in 2012, achieving this mark for the first time in decades.  The continued strong sales in the 9,100 acre master-planned community represent an established dominance of the Southern Maryland new home marketplace, outpacing any other competing community in both Charles and Prince Georges Counties and Southern Maryland.

In September, St. Charles announced a 43% increase in third quarter new home sales, year over year.  Homebuilders Lennar and Ryan Homes continue to report high levels of model traffic, particularly following the two community-wide open houses held on weekends in October and November.  St. Charles presents buyers with a wide variety of homes offered at extraordinary values in a community with a large amenity base, easy access to the Beltway and nearby work destinations.  St. Charles is considered one of the most successful master planned communities in the country and this year marks its 40th anniversary.

Making this accomplishment even more extraordinary, during the same time period, Kettler Management, on behalf of the St. Charles Companies, completed the leasing stabilization of the 120-unit Nines at Gleneagles property in St. Charles, which recently earned an Excellence in Construction Award from the Associated Builders and Contractors Association.  The apartments are the second group of three 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 units, in early 2013.

Overall occupancy at the company's portfolio of 2,500 apartments in the St. Charles planned community now stands at 95%, reflecting the popularity and appeal of St. Charles to a wide segment of consumers in the new home and rental housing markets

“New home buyers in St. Charles tell us they are attracted to the community for the excellent price points and value as well as amenities that include not only shops and restaurants but a minor league baseball stadium, a new library and a new, state of the art high school coming in 2014,” said St. Charles Companies CEO, Alan Shearer.  New homes in St. Charles have beginning prices in the $190’s for townhomes and $260’s for single family homes.

Named by CNN’s Money Magazine as one of the top twenty small cities to live in America, St. Charles is known for its diverse and abundant neighborhoods, lively retail village centers, abundant recreational opportunities and excellent schools.  St. Charles is home to the Southern Maryland Blue Crabs Atlantic League baseball team at Regency Furniture Stadium, the White Plains golf course and the just-unveiled, 30,000 square foot, LEED-certified Waldorf West public library. 

Early next year the Company expects to open the Gleneagles neighborhood center, the ninth center in St. Charles and the most spectacular yet. The new center will be situated featuring views of the White Plains Golf Course and will include walking paths that will connect the community center to the Charles County park.

Arriving in 2014 will be the new 1,600-seat St. Charles High School, offering unique educational opportunities to students and the community alike. 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.

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