The land in Prince George’s County, Maryland, will be used for the builder’s Spring Hills master plan community.
Real estate investment and land asset management company Walton Global sold 80 acres in Prince George’s County, Maryland, to D.R. Horton. The land will be used for D.R. Horton’s Spring Hills master plan community, according to Walton.
“This has been a highly anticipated initial phase of Spring Hills, and we are always happy to see progress and move forward with D.R. Horton,” says David Peter, executive vice president of special projects at Walton Global. “This master plan is our first development with D.R. Horton in Maryland, and we are pleased to contribute to the continued growth within the area, as well as support this flourishing community.”
The transaction is the first phase of residential development for the 822-acre Dobson Ridge master plan. The overall master plan is slated for a variety of residential unit types as well as a mix of employment and retail uses. Walton says residential units are planned to present a range of offerings, including single-family attached and detached dwellings and multifamily products. The planned development, located just outside Washington, D.C., is located in close proximity to Route 5 and Highway 301, with access to both the Capital Beltway and the city of Baltimore.
“We are excited to get this first phase of Spring Hills underway and to continue growing our relationship with Walton Global,” says Dwyane Hill, D.R. Horton’s capital division president.