St. Charles Reports Sales of 250 New Homes in 2014

Tue, 2015-01-27 06:14 kwidmayer

 

The St. Charles Companies reported 250 new home sales for the year, the third year in a row of more than 200 new home sales contracts in the 9,200 acre community. The amenity-rich master planned community has been the top-selling new home community in Southern Maryland for several years, with new townhomes and single family homes priced well below similarly located metropolitan Washington area communities. St. Charles is considered one of the most successful master planned communities in the country, ranked 42nd in sales* by real estate consulting company, John Burns Real Estate Consulting.

St. Charles continues to broaden its product selection, recently welcoming renowned homebuilder, K. Hovnanian® Homes® to St. Charles.  The new line of K. Hovnanian® Homes®, which will have options for dual owner’s suites, tandem 3 car garages, convenient high tech drop zones and plans with the versatility to have up to 7 bedrooms, are expected to be priced from the $360’s. St. Charles is just 11 miles south of the Capital Beltway and is close to Southern Maryland’s military bases, the booming retail and entertainment hub at National Harbor, and offers easy access to the area’s transportation corridors.

“Despite a challenging home market, new home buyers continued to find extraordinary value at St. Charles, driving steady sales of both townhomes and single family homes,” said St. Charles Companies President, Matthew Martin. 

Overall occupancy at the company's portfolio of 2,500 apartments in the St. Charles planned community now stands at approximately 94%, reflecting the continued appeal of living in a master planned community to residents who prefer to rent or who are not ready to purchase.  St. Charles recently completed and began leasing the 213-unit Links at Gleneagles apartments. The Links at Gleneagles raises the bar on apartment living in Southern Maryland with an onsite fitness center and clubroom, free membership to the Gleneagles Community Center with tennis courts, resort-style pool with beach entrance and clubhouse and condo grade finishes such as granite kitchen counters, crown molding and an upgraded appliance packages.

In 2014, St. Charles participated in the opening of the1,600-student St. Charles High School, which offers unique educational opportunities to students and the community alike. Built on a 100-acre site donated by The St. Charles Companies, the new school includes 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.

2014 also saw the completion of the sale of 76 acres in the Piney Reach Industrial Park to Competitive Power Ventures, which has broken ground on a 725 MW natural gas generated power plant. The sale highlighted St. Charles' unique competitive position in the commercial real estate market, with some of the largest undeveloped industrial and commercial parcels in the Washington region. 

"Exciting things continue to happen in our planned community," said Mr. Martin, "and 2014 was just the beginning. Our strong residential and commercial sales show the continuing appeal of a well-executed smart growth philosophy and we expect to capitalize on that appeal in 2015."

St. Charles, MD is the best-selling new home community in Southern Maryland and is considered one of the most successful master planned communities in the Country, recently ranked 42nd by industry data firm, John Burns Real Estate Consulting,

in their independent ranking of the Top Selling Master Planned Communities of 2014 across the nation. Over the past few years, St. Charles was featured several times in The Washington Post and was profiled alongside the Washington area’s top master planned communities in The Washington Times (Master-Planned Towns, Age 50, Innovative Still). St. Charles has achieved record-level sales in recent years as buyers and renters recognize 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. 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 centers, recreational opportunities and excellent schools.  St. Charles appeals to all ages and lifestyles and was named by U.S. News and World Report as one of the nation’s top bargains for places to retire.  St. Charles invites you to like us on Facebook at St. Charles MD or visit us at 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® acquired The St. Charles Companies in December 2009. FCP is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP is seeking equity, preferred equity and mezzanine debt investments in commercial and residential real estate throughout the Mid-Atlantic region, including Washington DC, Maryland, Pennsylvania, Virginia, Delaware, West Virginia, New Jersey and the Carolinas. FCP buys assets directly as well as through joint ventures with local operating partners. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its second investment fund, a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit www.fcpdc.com.

*Building Market Intelligence by John Burns Real Estate Consulting, January 16, 2015