UPPER MARLBORO, MD- NVR Inc. of Reston, VA has signed on as the first residential homebuilder to be part of the 479-acre Westphalia mixed-use development to be developed near Andrew's Air Force Base here.
The deal with Westphalia developer The Walton Group of Companies calls for NVR to buy 148 townhome lots. The entire Westphalia project is valued at $1.3 billion.
Walton announced the deal on Friday but did not disclose financial terms of the transaction, according to the Washington Business Journal.
"Walton is committed to offering a variety of residential properties at Westphalia Town Center, and we're excited that NVR has chosen to partner with us," John Vick, president of Walton Development & Management, Eastern USA stated. "We look forward to announcing additional partnerships in the near future as we work with Prince George's County to create a vibrant community in Westphalia."
Walton started construction on the project in Upper Marlboro during the summer and expects to complete site work on the project's first 348 townhome lots early next year. See story in the Washington Business Journal.
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