Friday, Nov 22, 2013

Georgetown Ridge

Our client, the owner of 15 acres of prime real estate off of Georgetown Pike in McLean, Virginia, sought to sell this property. Another client, WCI/Renaissance, sought to purchase the land for residential development. With a conflict waiver from both parties, Walsh Colucci was able to accomplish this goal.

WCI/Renaissance knew of Walsh Colucci’s reputation for professional integrity and fairness and retained shareholder Mark Goetzman to represent them in the development phase of this matter.

Mark was able to negotiate a final sales contract to the mutual benefit of both clients – the sellers and the purchasers. A rezoning application was filed and processed. Development plans required Walsh Colucci to structure a land swap with adjacent land owners to gain enough land for extending public right-of-way onto the property. Additionally, the site plans obligated an adjacent landowner to vacate his rights to an access road, which Walsh Colucci was able to administer. WCI/Renaissance then tapped the firm’s real estate expertise to draft the development documents and homeowner’s association documents.

Success was achieved with approval of the property’s rezoning to permit an enclave of luxury estate homes. The ability to navigate the intricate elements of this development project and create the solutions highlights the value of the Walsh Colucci real estate transactions group.