Londonderry on the Tred Avon Breaks Sales Records and Announces Expansion
As of May 1, 2014, Londonderry on the Tred Avon had 30 homes on the market. To date, the retirement community reports that they have sold 96% of the cottages that were for sale in 3 months, with only 4% remaining to sell. According to Andy Hollis, Executive Director of Londonderry on the Tred Avon, “Londonderry, which currently has 97 cottages and 26 apartments, is over 96% occupied which is well above industry standard.”
Irma Toce, Sales Consultant, who joined Londonderry on the Tred Avon in the spring, adds, “On average in the past three months, the Londonderry sales and marketing team has sold on average seven cottages/apartments per month.”
In addition to the growth in sales, Londonderry on the Tred Avon is expanding by releasing six lots for new construction. Hollis comment, “We are currently working with the architect regarding making modifications/ improvements to the existing floor plans, and adding a smaller one story cottage option as well. All units will continue to have a one car garage and all will have the ability to add a second story for storage or livable space.”
In 1992, Londonderry Retirement Community was built on 24-acres at the head of the Tred Avon Creek, originally part of a 1664 land grant known as Westmoreland that was granted to Irish immigrant Francis Armstrong. As the property changed hands over the next 100 years, it became known as London Derry, and eventually Londonderry on the Tred Avon, as it is called today.
Londonderry on the Tred Avon Easton, MD is a cooperative retirement community. Cooperative senior housing is a unique option for seniors seeking a retirement lifestyle while maintaining control over their investment. There are 98 nationwide and only two in Maryland. At Londonderry, the building and land is owned by the cooperative. Each resident owns shares in the cooperative based on the value of their home. Shareholders have occupancy rights to a specific home as long as they own their stock. The stock may be sold when the resident leaves and the equity returned to them or their families. In this unique cooperative, shareholders may take tax deductions for interest paid on the co-op mortgage and real estate tax deductions.
For further information about Londonderry on the Tred Avon, call 410-820-8732.
Photo #1: An aerial photo of Londonderry on the Tred Avon (Photo by Tim Herlihy)
Photo#2: Pictured left to right are Londonderry on the Tred Avon’s Sales Team: Irma Toce, Sales Consultant; Ann Marie Midula, Director of Sales and Marketing; and Rachel Smith, Sales and Marketing Manager.