Villages of Ayedelotte – SOLD
Maryland
Overivew
Villages of Aydelotte is a mixed-use development located in Salisbury, Maryland on the north side of Middleneck Drive and on both sides (east and west) of the contemplated extension of Beaglin Park Drive. This area is easily accessible via Route 50/13 to the north, Business Route 50 to the south and Business Route 13 to the west. Centrally located, this community straddles the extension of the Northeast Collector Road, which will serve to move northbound traffic from the highly residential south side to the highly commercial north side of Salisbury. The Centre at Salisbury Shopping Mall and other retail centers are located within close proximity to the site.
The original master plan envisioned an amenitized, walkable community that would include 673 residential units, including 76 single-family homes, 453 townhomes and 144 condominium units, together with two commercial lots, planned for neighborhood retail usage. The project is zoned Planned Residential Development (PRD) which is a flexible zoning ordinance that permits a variety of uses within the community.
The community is partially developed and LREA Realty has been engaged to market a portion of the remaining 30 developed lots and 116 gross acres (100 net developable) for bondholders. Bond assessments structured as TIF financing (Tax Increment Financing) remain in place and can be utilized as a source of financing. TIF financing permits the use of realized increases in property value to offset annual debt service on the bonds.
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Contact Us
For more information about this property contact Chip Jones at Lerner
Real Estate Advisors
Ph: (813) 898-0288
Email: cjones@lerneradvisors.com
