CoastOak Group announced today the completion of two master-planned communities in Loudoun County, Virginia with 679 residences. The communities were developed by CoastOak’s local development platform, Woodlawn Development Group, which CoastOak formed with NVR, Inc. and Morgan Stanley Real Estate Investing in June 2011.
Woodlawn completed over $55 million of land development and infrastructure installation in these two communities, on schedule and under budget. All lots have been sold to builders and the final homes are under construction.
“We are very excited to see our residents enjoying these new communities. Our goal was to create distinctive places where families could raise their children and people would connect with their neighbors,” said Greg McGowan, Managing Principal.
Westridge was acquired in 2011. CoastOak completed a comprehensive revision to the plans for the community and initiated development in 2012. The community features a central park and amenity area that is within easy walking distance for all its residents. Westridge contains 455 townhomes and detached homes built by Ryan Homes.
Dawson’s Corner was acquired and development was initiated in 2011. Dawson’s Corner is a luxury community featuring larger lots with 224 homes built by NV Homes and Ryan Homes.
“We are very pleased to see vision become reality as families enjoy these completed communities,” said Don Carroll, Managing Principal. “We are very proud of the Woodlawn team’s performance throughout the planning and development process, and we are excited to see the success of our builders and partners in these projects.”
Woodlawn is one of the most active residential developers in the Washington, DC metropolitan area with over $250 million of community development completed since 2011. Woodlawn is continuing to develop communities with over 2,000 lots in Prince Georges County, Maryland.
CoastOak Group is a real estate development and investment management company that creates and operates distinctive residential and mixed-use communities across the United States. CoastOak currently operates communities with over 15,000 lots in ten distinct markets throughout the United States.