What made it special:
- Highly desirable location, ½ mile from the beach, State Park and Downtown Lewes.
- Picturesque existing natural features, including rolling hills, mature woods and 16-acre pond.
- Distinctive legacy farm features such as horse stalls, 8,000 sf barn and old grain building.
How we added value:
- Redesigned the layout of the community to offer larger lots tailored to the substantially undersupplied custom home market segment in the area.
- Integrated and improved the existing natural features, while also adding new elements such as ponds to enhance the aesthetics of the community.
- Created amenities to compliment to the luxury feel of the community, including a new clubhouse, resort-style pool, a refurbished barn, horse stalls repurposed into poolside cabanas, historic fencing throughout, and relocated an old grain building to create a 12 foot working waterwheel feature.
- De-risked the transaction by using limited leverage, engaging our affiliate brokerage team to market the project, and using custom home builders with whom we have long-standing relationships.
Exited, with project selling out in early 2020, roughly two years earlier than expected.