{"id":240073,"date":"2022-11-30T13:50:08","date_gmt":"2022-11-30T20:50:08","guid":{"rendered":"https:\/\/walton.com\/?p=240477"},"modified":"2022-11-30T13:50:08","modified_gmt":"2022-11-30T20:50:08","slug":"westphalia-dev-corp-reports-third-quarter-2022-fiscal-results","status":"publish","type":"post","link":"https:\/\/walton.com\/de\/westphalia-dev-corp-reports-third-quarter-2022-fiscal-results\/","title":{"rendered":"Westphalia Dev. Corp. Reports Third Quarter 2022 Fiscal Results"},"content":{"rendered":"<p><strong>SCOTTSDALE, Ariz.<\/strong>\u00a0\u2013 Westphalia Dev. Corp. (the \u201cCorporation\u201d) announced today its results for the third quarter ending September 30, 2022. The Corporation was formed in March 2012, for the development of a 310-acre Westphalia property located in Prince George\u2019s County, Maryland, United States.<\/p>\n<p><strong>Development and Sales Activities<\/strong><\/p>\n<p>The key development and sales activities of the Corporation in the third quarter ending September 30, 2022, were:<\/p>\n<ul>\n<li>Woodyard Road, Pennsylvania Ave, and Presidential Parkway East TIF project construction continues and is scheduled to be substantially complete Q4 2022.<\/li>\n<\/ul>\n<p>Presidential Parkway West TIF project continues and is scheduled to be complete in Q1 2023.<\/p>\n<ul>\n<li>Executing the site plan strategy and working on additional refinements including discussions with numerous potential new buyers and retail brokers.<\/li>\n<\/ul>\n<p>Finalizing engineering toward initiating the revision of the Conceptual Site Plan and Preliminary Plan of Subdivision and a Detailed Site Plan for the retail core of the masterplan.<\/p>\n<ul>\n<li>A community outreach process utilizing locally based leadership teams and residents is complete.<\/li>\n<li>As a result, the retail, commercial, multifamily, and senior living planning is underway which includes advancement of preliminary engineering.<\/li>\n<li>Northpoint, the potential purchaser of the Corporations Phase 2 and Phase 3 land parcels, has completed zoning text amendments that enables them to be authorized within the current zoning for the proposed use.<\/li>\n<\/ul>\n<p><strong>Financial Results<\/strong><\/p>\n<ul>\n<li>Operating expenses for this quarter remained consistent with Q2 2022.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>The Corporation\u2019s financial statements and management\u2019s discussion and analysis for the third quarter ended September 30, 2022, are available under the Corporation\u2019s SEDAR profile at <a href=\"http:\/\/www.sedar.com\">www.sedar.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SCOTTSDALE, Ariz.\u00a0\u2013 Westphalia Dev. Corp. (the \u201cCorporation\u201d) announced today its results for the third quarter ending September 30, 2022. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":240074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[19,17],"tags":[],"class_list":["post-240073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-release","category-newsroom"],"acf":[],"_links":{"self":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/posts\/240073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/comments?post=240073"}],"version-history":[{"count":0,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/posts\/240073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/media\/240074"}],"wp:attachment":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/media?parent=240073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/categories?post=240073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/tags?post=240073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}