JLAM Acquires The Olde Town Project in Lewes, DE
Olde Town Lewes, 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 Olde Town – a planned community consisting of 85 single-family home lots located in Lewes, Delaware.
The Olde Town community will offer custom home lots (on which they can design and build their home) in a premier location in close proximity to the many dining and shopping destinations in downtown Lewes, as well as the countless recreational activities found at Cape
Henlopen State Park and the resort beaches. The community was designed to offer a variety of lot options, including pond front and wooded locations. In addition, there will be direct access to the Junction Breakwater Trail network. Prior to its acquisition, JLAM oversaw the design and land use approval process.
The partnership will install the community infrastructure, amenities, and manage all land development activities, and has engaged Jack Lingo – REALTOR as the exclusive listing agent to market and sell lots. The project site construction will begin in the fourth quarter of this year, and marketing is expected to kick-off by year-end.
Doug Motley, Managing Principal of JLAM, shared “We are so excited about the Olde Town project – our team has spent countless hours dialing in every detail of this community and we can’t wait to see it come to life. Olde Town will be a truly special place to live coupled with an unbeatable location, which is a combination we firmly believe in.”
JLAM and its affiliates have a longstanding successful track record in the greater Lewes area, and Olde Town continues its strategy of developing differentiated residential communities across the mid-Atlantic region. JLAM is actively seeking additional development opportunities in the region.
JLAM is a dynamic real estate firm that specializes in identifying, developing, and investing in properties where the end user is proud to live or work. Our focus is on differentiated real estate within three core strategies: residential land development, multi-family, and multi-tenant office. The firm targets premier properties in select high-growth markets in the southeast and mid-Atlantic U.S. As a direct investor and operator, JLAM is well-positioned to capitalize on favorable thematic factors, market dislocations, and contrarian investment opportunities. Click here to learn more.