76% Increase Over 2014 Reflects Growing Interest in Master Planned Community Benefits, New High School
The St. Charles Companies reported 67 new home sales for the first quarter of 2015, a 76% increase over the same period in 2014 for the 9,200 acre, master planned community. In March, more than 525 prospective homebuyers visited model homes from builders Ryan Homes and Lennar, the highest traffic month recorded in four years. The amenity-rich 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 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.
“Home buyers continue to find great value in our new homes,” said St. Charles Companies President, Matthew Martin. “The opening of St. Charles High School this year, great amenities, access to recreational options and green spaces all combine to put St. Charles at the top of the list when homebuyers are seeking a great place to live.”
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.
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. Federal Capital Partners (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 invests in all asset classes and provides equity, preferred equity and mezzanine debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com.
*Building Market Intelligence by John Burns Real Estate Consulting, January 16, 2015