Lennar purchases 2,500-acre St. Charles community in Waldorf, MD
It was announced this week that Lennar purchased the 2,500-acre St. Charles community in Waldorf, MD (price not disclosed). According to Charles County, the acquisition reduces the number of planned housing units by more than 2,500.
This settles a legal matter between the former owner, Federal Capital Partners, and the county over school allocation commitments. Not only does the reduced density relieve pressure on schools and transportation infrastructure, but the county also indicated that Lennar will work with county officials to make St. Charles more pedestrian friendly with more sidewalks and bike paths. Lennar officials said that they will continue to be the primary builder in the community, but that there will be other builders as well. Development is expected to continue for another 12-15 years or longer.
According to Metrostudy, St. Charles is the third most active community in Maryland ranked by starts over the past year.