Showfield

Lewes, DE

Showfield

Lewes, DE

Project:Showfield (Lewes, DE)

Size:166 single family lots

JLAM identified the opportunity to develop a premium residential offering that would excel in a vastly undersupplied market segment. The team navigated the entitlement process, conceived the amenity package, managed all components of the development process, and designed and implemented the homebuilding program to ensure architectural harmony and accelerate sales.

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.

Result:

Exited, with project selling out in early 2020, roughly two years earlier than expected.