PRINCE GEORGE’S COUNTY, Md.--(BUSINESS WIRE)--
The Walton Group of Companies (Walton), a family-owned, real estate investment, planning, and development group in Virginia and Maryland, with U.S. headquarters in Scottsdale, Arizona, announced today that it has entered into agreements with Mid-Atlantic Builders and Haverford Homes to build townhomes at Westphalia Town Center in Upper Marlboro, Maryland.
Each builder purchased 102 townhome lots that together commit the remaining 204 of 348 lots. Walton’s first builder agreement was made with NVR, Inc for 144 lots and the latest agreements with Mid-Atlantic Builders and Haverford Homes complete Phase 1 with 100% commitment for 348 homes.
“At the outset, Walton committed to offering a variety of residential properties at Westphalia Town Center. With the addition of Mid-Atlantic Builders and Haverford Homes, we have followed through on that commitment,” said John Vick, President of Walton Development & Management, Northeast USA. “All three of our builders are experienced in delivering quality homes to residents of Prince George’s County. We are pleased to bring them together in our community.”
The 479-acre Westphalia Town Center is Walton’s first development in Maryland and one of the largest commercial real estate developments in Prince George’s County to date. Upon completion, Westphalia is expected to offer diverse residential options, including single-family homes, townhomes, and apartments. The development also will feature an elementary school, fire and rescue facility, shopping and restaurants, commercial office space, as well as a hotel.
Construction at Westphalia began earlier this summer following a ground-breaking ceremony with Lt. Governor Anthony Brown and County Executive Rushern L. Baker III. Phase I work is projected to be completed in early 2014. Westphalia Town Center is expected to deliver a significant economic boost to the region, with a projected 15,000 permanent office and retail jobs, as well as $21 million in county taxes.
Walton manages approximately 3,500 acres of land in Maryland, including 2,900 acres in Prince George’s County. Construction-related spending to completely develop Walton’s Prince George’s County holdings is estimated to be more than $1.3 billion and is estimated to directly support an annual average of more than 900 jobs during the construction period.
The Walton Group of Companies (Walton) is a family-owned, multinational real estate investment, planning, and development firm concentrating on the research, acquisition, administration, planning and development of strategically located land in major North American growth corridors. With over 79,000 acres of land under administration and management, Walton is one of North America’s premier land asset administrators and managers.
Walton has been in business for over 30 years. We take a long-term approach to land planning and development. Our industry-leading expertise in real estate investment, land planning and development uniquely positions Walton to responsibly transition land into sustainable communities where people live, work and play.
Our communities are comprehensively designed in collaboration with local residents for the benefit of all community stakeholders. Our goal is to build communities that will stand the test of time: hometowns for present and future generations.
- Real Estate
Rick Abbruzzese, 1-646-790-4626