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Local Developer-Major Builder Transaction

A West Deptford developer sold a property zoned for 600 residential units to D.R. Horton after our attorneys handled negotiations for the developer to ensure the sale, development, approval and closing on the property.

Through careful planning and measured steps, our real estate and redevelopment attorneys guided a West Deptford developer to ensure the successful sale of a property zoned for 600 residential units to D.R. Horton.  Initially, Flaster/Greenberg assisted the developer with the identification of a property and the negotiation of a contract for the land, which was zoned for industrial uses.

Through litigation, we were able to secure an agreement to rezone the property for 600 units of residential, single family, town home and garden apartments on the previously identified industrial site.  We then represented the developer to ensure all necessary land use approvals were in place to move the project forward.

An additional part of the project involved a stand-alone, 72 unit affordable housing project for which Flaster/Greenberg was able to get the zoning and approvals.  We also negotiated the land deal with and participated in the federal financing for the Diocese of Camden and a local church as sponsors.

Our attorneys handled the transactional work including the negotiation and contract of sale to D.R. Horton, a major builder.  Finally, Flaster/Greenberg assisted the client in handling the closing on the property.

D.R. Horton, Inc. is traded on the New York Stock Exchange (DHI), and is one of the nation's leading homebuilders in revenue and earnings growth. They are engaged in the construction and sale of single-family detached homes, town homes, duplexes, triplexes and condominiums.

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