Harbor Point Community Launches In Lewes, DE
Harbor Point, LP, a new partnership sponsored by Jack Lingo Asset Management (JLAM), a Rehoboth Beach, Delaware based real estate development and asset management firm, is pleased to announce the acquisition of a planned 69 home community in Lewes, Delaware known as Harbor Point.
JLAM recently completed a private placement for the project, securing more than $7 million in equity capital from a combination of high net worth and private fund investors.
The Harbor Point community includes 69 single family homes and will feature an amenity area and pool overlooking a central pond. Homesites in the community are situated to maximize views of the Great Marsh, wetlands, and community ponds. The project is located east of Coastal Highway on the north side of Lewes, providing easy access downtown Lewes, Cape Henlopen State Park, the Atlantic Ocean, and Delaware Bay. Prior to its acquisition, JLAM secured all entitlements and agency approvals for the development of the property.
The partnership will install the community infrastructure, amenities, and oversee all other development-related activities. The project site construction is now underway and sales are expected to begin in spring of 2019.
Jack Lingo Asset Management is Delmarva’s market leader in land development and real estate investment activities. Through a series of investment programs it represents a broad range of capital sources, including high net worth and private equity investors. JLAM focuses on creating value at each stage of the development process, while leveraging the team’s 100+ years of combined real estate and finance experience, to deliver successful projects and generate positive returns.
JLAM is currently setting plans in motion for future investment projects in the Delmarva region to meet growing investor demand for land development opportunities.