Waterfront Homes on Monroe Bay Included in New Town of Colonial Beach Redevelopment Project, Sunset Cove
4.8 acres of former Billingsley farm to be subdivided into 18 buildable lots
Fifteen years ago, investors of CB Equity Partners, LLC shared a dream for the former Billingsley Farm, located along Monroe Bay in the Town of Colonial Beach: a community of single-family homes in the waterfront community, in a manner that respects the memory of the former owner and protects the wetlands environment.
Inspired by the stunning views from these homes, of the sun setting over Monroe Bay, the subdivision will be called Sunset Cove. The project calls for redevelopment of more than 4.8 acres on the west side of Town of Colonial Beach’s historic downtown area: eighteen buildable lots ranging in size from 5,201 sq. ft. to 16,205 sq. ft. Six of the lots will be waterfront properties along Monroe Bay, with another six lots providing water views. Approved plans include a new cul-de-sac, infrastructure, common area, Homeowner’s Association, and a conservation easement for wetlands.
“Buildable waterfront lots are scarce. The Sunset Cove project provides an opportunity for people to design and build their new waterfront dream home and still enjoy the small town life Colonial Beach has to offer,” said Dan Armstrong, project manager, AWC Engineering.
The COVID-19 global pandemic has had a significant impact on the residential real estate market, driving people out of large metropolises and densely-populated apartment buildings, and into suburban and rural areas where there is ample open space and greater opportunity to socially distance. Waterfront property, always in high demand, but beyond the budget of many, is more affordable in Sunset Cove.
“The time is right for CB Equity Partners to launch this long-anticipated Sunset Cove redevelopment project. Technology has made it easier for employees to work from home; and
even when pandemic restrictions are lifted, many companies will allow remote working permanently. This gives people a wider range of choices of where they want to live and raise a family,” explained Armstrong.
The Sunset Cove development project is the latest to be confirmed in Town of Colonial Beach, after Richmond, Virginia-based Dodson Development announced a $25M four-phase project that includes mixed-use residential, commercial and retail development.
“Town of Colonial Beach is coming of age!”, voiced Robin Schick, Vice Mayor and Mayor-elect for the Town of Colonial Beach. “We are excited about the growth and diversification that will be realized through these redevelopment projects. Single-family homes, condos, townhouses-the Town is maturing to accommodate anyone who wants to share in our river retreat lifestyle.”
Clearing of underbrush on the property has already commenced; and the lots are expected to be on the market by spring. Lot prices are yet to be determined. An original farmhouse on the property is not structurally sound and will be removed.
For more information about Sunset Cove development, contact Dan Armstrong at info@sunsetcovecb.com.
ABOUT CB EQUITY PARTNERS
CB Equity Partners, LLC is a group of Northern Virginia investors. Some of the investors have been a part of the community in one capacity or another since 1985. 15 years ago, the opportunity arose to add the development along Monroe Bay. The partnership was formed and Sunset Cove started to take shape. However, in 2008, the real estate market crashed and dampened hopes to see it through. For over a decade, CB Equity Partners, LLC stuck with it and has brought Sunset Cove back to life.
ABOUT TOWN OF COLONIAL BEACH
Town of Colonial Beach, Virginia (CBVA), is steeped in history, from its original patent in 1651 to its incorporation in 1892 to its establishment as the “Playground of the Potomac” in the early 19 th Century and epicenter of the 100-year-old oyster wars that lasted until the 1960s. Located on the shores of the Potomac River, Town of Colonial Beach is home to the second largest public sand beach in the commonwealth, and is quickly becoming a destination for residents of Richmond, Fredericksburg, Northern Virginia, and Washington, D.C. For more information, visit Town of Colonial Beach at https://colonialbeachva.net/ and VisitCBVA at https://visitcbva.com/.
