Swan Point, MD

Swan Point's proposed development project won approval this week at the Maryland State Board of Public Works hearing in Annapolis, MD this past Wednesday.

I attended the meeting to view first hand what Governor Martin O'Malley had to say about the project, and to voice my support for the project. I was impressed at the supporter turnout for the project. Over 2 dozen people were there to support the development, and although 3 people showed up to protest the development, only two of them decided to speak out against Brookfield Homes and US Steel's proposal.

The Governor actually opposed the plan, but even without his vote the project gained the necessary approval needed to move forward! This means that the Swan Point Development Corporation is looking to break ground on the Westin Swan Point hotel by early 2009, and should be slated to open in 2011.

The meeting itself was fascinating. Wayne Cooper, Mac Middleton, Sam Graves, and Murray Levy all spoke in support of the project and it's benefit to Southern Maryland, and one of the developers reps mentioned that there was projected to be a 10% overall improvement in water quality in the area due to the new development.

I've been very impressed with both Brookfield Homes and US Steel on this development. They seem to understand the sensitive nature of developing a project like this on the Chesapeake Bay, and they've been very flexible in changing plans and proposals in order to comply with concerns of residents and government officials.

It really speaks volumes towards their character when they willing change and reduce their own development in order to satisfy everyone involved. Make no mistake, the goal is to develop a waterfront resort destination here, but that doesn't mean the developer can get everything they want, either. It's a relief to see a developer that is willing to be flexible with the community.

Link to Maryland Independent Article on Board of Works Approval
Link to Other Development Posts

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com

April 16, 2008 - Riverview Builders attends the United Way Golf Tournament at Swan Point Yacht & Country Club. The United Way once again had two successful tournaments in one day. Eric Grainger of Riverview Builders played a small role in helping install tee signs for both tournaments in the morning before the tournament then participated in the afternoon tournament coming in 2nd place with David Ashton of Linemark Printing, Steve Mote of Mote Management, and Kirk Smith of 84 Lumber. Great day and another successful tournament for the United Way of Charles County. For more information go to www.riverviewbuilders.org.

Looks like Swan Point will be getting it's fancy new hotel after all! The Charles County Commissioners voted to approve the Tax Incremental Finance (TIF) Bond recently, which will pave the way for the development infrastructure there.

Under the tax incremental financing, agreement, the county will issue $26 million in public bonds to fund the project’s infrastructure. The debt service for those bonds would be repaid using a portion of the new taxes generated by the increased property value that would result from the project’s improvements on the land.

Link- County approves special financing for Swan Point

I'm excited to see what the final plan will actually look like! This project looks to be a great opportunity for the county, and has the potential to make swan point a first class resort destination! I will update more information as the development grows, so check back from time to time for new information! If you have any questions or comments, I'd love to hear more views on the new development and growth plans!

Related Posts:

12/11/2007- Swan Point TIF Proposal Meeting
12/07/2007- Swan Point Site Plan
10/30/2007- Swan Point Development *Finally* Moving Forward

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com