Wednesday, April 09, 2008
Stillwater Ponds
I received an email this morning that said the Stillwater Ponds Development was listed on Broker Post for six million dollars. As you may recall Stillwater is a proposed development of 138 homes located between Old Stage Road and Robin Hood Drive, off RT54. That is $43,478 per lot in a development nothing has been done in. Back in October 2007 the Delmar Planning and Zoning commission gave final plat approval to this project and the developers must have almost tripped over their feet rushing out the door, after the meeting, to put it on the market. One of the people involved in it is Steve Fuller, who is also involved in the Foskey Business Park development on the Delmar Maryland side of Town. He is a man to look out for.
I have to agree with what Councilperson Diane Buckley keeps saying, once approval is given for these developments, if they are sold than the new developer has to start the approval project all over again. These developments are in the works so long that by the time work starts building they have been sold a number of times and the paperwork is so messed up it is hard to say what can be built on the land.
I have to agree with what Councilperson Diane Buckley keeps saying, once approval is given for these developments, if they are sold than the new developer has to start the approval project all over again. These developments are in the works so long that by the time work starts building they have been sold a number of times and the paperwork is so messed up it is hard to say what can be built on the land.
# posted by Howard @ 8:28 AM 
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"Flipping" the projects before a shovel-full of dirt has even been dug is the real name of the game for these developers. At each stage--annexation, etc.--the price escalates as a dollar figure for sale of the raw land.
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# posted by 
: 10:11 AM
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