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MOMENTUM CONTINUES TO BUILD AT WALTON'S WASHINGTON DC DEVELOPMENTS

2018/01/31

The Walton Group of Companies is pleased to announce that Phase 1 lots are now fully contracted at both of the group's Washington DC developments: Canter Creek & Westphalia Town Center.

CANTER CREEK

Canter Creek, a four phase residential development of 342 expansive acres in Prince’s George County Maryland, is currently planned for 410 serviced single-family housing lots, with a daycare facility, a community park, environmental reserves, and
walking trails. With the 106 Phase 1 lots complete and under contract to two home builders, Walton’s attention now turns to Phases 2-4.

WESTPHALIA TOWN CENTER

The other active development managed by Walton, also located in Prince’s George County Maryland, is Westphalia Town Center, a 310-acre mixed-use master-planned community of residential, retail, office, and dining space. Walton and its partners plan to develop the
town center in four phases and offer residents townhomes and apartments available in a wide range of styles, sizes, and price points, including up to 66 single-family homes, 815 townhomes,
and 800 apartments at full buildout.

Thus far, the two developments have attracted a great mix of partners and homebuilders including: Kimco who is the joint venture partner for the 300,000 SF retail space in Phase 1 of Westphalia; Ryan Homes, Haverford Homes, and Mid-Atlantic Builders who have all of the 346 townhome lots in Phase 1 of Westphalia under contract; and Ryan Homes and Mid-Atlantic Builders who have all of the 106 single-family lots in Phase 1 of Canter Creek under contract.

Single-family homes at Canter Creek, ranging from 1,700 – 4,300 SF, are currently selling from the low $400,000s, while townhomes at Westphalia are selling from the low $300,000s.

“The builders at our two developments are all ahead of schedule with their lot purchases, and we have continued to receive strong interest in the remaining phases,” says Edward R. Fleming, President of Walton’s East Region. “We are especially encouraged to have received significant support and investment from the County for infrastructure improvement on our Westphalia development which will attract more retail partners.”

On November 14, 2017 the Prince George’s County Council unanimously approved a $42 million special obligation bonds issuance for specific public infrastructure improvements in and around the Westphalia project.