Emerging from School Moratorium

They can slap a ‘G’ rating on ‘Symphony Village’ in Pasadena: it’s ‘appropriate for all ages.”

Because of changes in school districts, the 924 unit community has just been re-approved to remove the age-restricted label. In a market in which senior housing is among the slowest moving product, shedding the ‘Active Adult’ tag and tapping into the broader market is like winning the lottery.

Where they can, other developers are revising their plans to drop the age-restricted label. It’s a measure of how difficult the market for the ‘golden years’ buyer is that some developers are willing get back in the queue for school capacity, even if it means a wait of several years.

Besides Symphony, school capacity changes have also freed up a dozen single-family lots in “Penderbrooke.” Because Old Mill High School has additional room, Koch Associates has submitted plans to revise its approved Final Plan for 60 acres off Severn Chapel Road. Whitehall Development also wants to revise its Final Plan for ‘Admiral’s Ridge townhouse project, already Sketch approved for age-restricted in Arnold. But Annapolis-based Whitehall is opted to revise the application for the broader market, even though it means joining a queue to wait for school capacity.

Symphony will be 250 singles, 266 townhouse villas and 408 condominiums, located on the east side of Marley Neck Boulevard, opposite Freeman Shores Road, and next to the already-selling Tanyard Springs.

Reston, Va.-based Sanctuary Properties owns the Symphony Village ground, but the project is managed by Crofton-based Caruso Homes.

Appreciation Day

CENTREVILLE — Symphony Village residents thanked those who help fund, design and build the bio-swale in their community at an “appreciation day” on June 30.

A large crowd gathered near the bio-swale, built behind homes on Overture Way. The bio-swale filters and slows down the stormwater runoff. It features stones and rocks and two rain gardens with native plants.

Cass Smith, a resident of Overture Way, recognized those who helped with the project, including Dave Dammeyer, watershed manager for the Town of Centreville; the volunteers in the Corsica River Conservancy; and Denis Radford and Ashley Kidner, who operate International Landscaping & Design, the project contractors; and residents of Symphony Village, who helped put down mulch and haul rocks. Also giving brief remarks were Mark Somerville, a vice president with Caruso Homes, the developer of Symphony Village; John McCoy, ecosystems director with the Maryland Department of Natural Resources and coordinator for the Corsica River Watershed Project; and Debbie Pusey, a member of Corsica River Conservancy.

Radford presented photographs to McCoy showing the area before and after the bio-swale was built. Radford presented a copy of the design plan for the bio-swale to Smith. Radford and Kinder were joined by workers in their crew, Fred Sebly, Burns Schaeffer, Ted Heinrich and Richard Coppage.

McCoy recognized Stephan Abel, director of the Chesapeake Bay Recovery Partnership, the organization that applied along with DNR for grants for the bio-swale project. Funding was obtained from the National Fish and Wildlife Federation and the Chesapeake Bay Trust.

Rain gardens are catching on big in Symphony Village and throughout the Corsica River Watershed. Steve Sharkey, a member of the Corsica River Conservancy, said more than 142 rain gardens have been planted in the watershed. A rain garden temporarily stores water after heavy rains, reducing the amount of sediment and pollutants going into streams.
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New bioswale filters stormwater at Symphony Village

New bioswale filters stormwater at Symphony Village

By KONRAD SUROWIEC Staff Writer

Published: Wednesday, June 10, 2009 4:17 AM CDT

CENTREVILLE A recently completed stormwater management project in the Symphony Village community is designed to improve stormwater quality and reduce soil erosion. It's practical and it looks good, say local residents.

A drainage channel was built behind homes on Overture Way to carry stormwater runoff to a wetlands area, which borders a branch of Mill Stream, a tributary of the Corsica River. Called a bioswale, the channel features stones and rocks and two rain gardens with native plants. The bioswale "filters and slows down" the stormwater, "plus it's going to look so pretty," said Cass Smith, who lives on Overture Way with her husband, Ed Smith.

Cass Smith said it took about a month for workers from International Landscaping & Design to build the bioswale, but the preparation and planning for the job began more than a year ago. She said it was a cooperative effort involving Symphony Village residents, the Corsica River Conservancy, the Town of Centreville; and Caruso Homes, the developer of Symphony Village. The bioswale and rain gardens were designed by Denis Radford and Ashley Kidner.

"It's good the community supports this kind of thing," said Smith.

Rain gardens are also catching on big among Symphony Village residents. Smith said 35 rain gardens have been planted in the community and about 45 more are planned. A rain garden temporarily stores waters after heavy rains, reducing the amount of stormwater runoff that washes sediment and pollutants into streams. The Smiths and their neighbors, Mike and Maggie Crosswhite, share a rain garden that was planted behind their homes. Debbie Pusey, a member of the Corsica River Conservancy, was instrumental in convincing Symphony Village residents to put in rain gardens. Some residents resisted the idea at first, but changed their minds, said Maggie Crosswhite.

"When they started seeing how nice they were, a lot of the 'noes' turned to 'yeses,'" said Crosswhite.

Before the bioswale was built the runoff behind Overture Way was fast and furious, enough to ride a kayak after a big storm, joked Smith.

"Now, it's going to be a focal point point for out community. This is beyond our expectations," she said.

Before Symphony Village was built, the site was farmland and open fields, said Smith. She said the impervious surface from the development "impacts the health of the Corsica River and the watershed." Smith said residents want to do their part to improve water quality and leave a positive legacy.

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Symphony Village Information

Don't miss one of the last public events of 2009. The Symphony Club Brunch will be held on October 17th from 11:00 AM - 1:00 PM. This is a unique opportunity to meet and mingle with homeowners and find out for yourself, why they love their community and are so happy with their decision to build a Caruso Home. RSVP is required no later than October 12th as space is limited. Call 866-766-0009 to reserve your seat today.
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http://www.symphonyvillage.com

Caruso Homes and Timberlake Homes Work Together

Caruso Homes and Timberlake Homes work together at the Timber Ridge community off Brandywine Road in Clinton Maryland. Jeff Caruso said he likes to work with Timberlake because they develop great neighborhoods; for example, this community has sidewalks and curbs to protect the young children from residential traffic, you don’t see that in every community these days.” The developer John Minzer of Timberlake Homes and Jeff Caruso of Caruso Homes have a long history of working together in neighborhoods; the diversification and competition are good for the home purchaser.

Caruso Homes Emerges from Bankruptcy

CROFTON, Md (September 3, 2009)-- Caruso Homes, headquartered in Crofton, Md, has had its plan of reorganization filed under Chapter 11 of the bankruptcy code confirmed by the Honorable Judge F. Schneider of the United States Bankruptcy Court for the District of Maryland, Baltimore Division, according to Jeffrey Caruso, president of the firm he founded in 1986.
In his closing statement Judge Schneider said, “this case is an example of how the bankruptcy code should work.” He also complimented all those involved in the case including Caruso Homes’ bankruptcy counsel Joel I. Sher of Shapiro, Sher, Guinot and Sandler; Jeff Caruso’s personal attorney Paul Nussbaum of Whiteford, Taylor Preston LLP , each of the 10 banks working with Caruso Homes, the members of the creditors' committee, their counsel, the subcontractor community and Caruso.
The Caruso Homes’ emergence plan includes a provision where certain future profits will be shared with creditors. Caruso explained he will be able to remobilize the newly positioned company with minimal personal and corporate debt and a strong balance sheet.
The company will immediately begin selling seven communities out of two regional models located in the Maryland suburbs of Washington DC.
“This is one of the most challenging real estate markets and economic environments in recent history. This is a big day in the history of Caruso Homes and we are thankful that our creditors made this possible,” Caruso said after yesterday's hearing.
Caruso Homes has won more than 100 local and national awards for excellence in service, building systems, home design and many other categories. However, even though the company has well developed policies, systems and procedures, when the sales of Caruso’s more than 20 communities began failing in 2005, the debt service on the 3,000 lots tied up by the company forced it into a Chapter 11 bankruptcy filing in June, 2008.
“Caruso Homes, along with its lenders and trade partners, have worked together to fashion a plan that allows us to emerge as a competitive and profitable community developer and builder,” Caruso Homes executive vice president Chris Block stated. “The flexibility granted under the plan allows us to navigate business during these unprecedented times and beyond. I am confident that the company and its partners will succeed together.”
The firm is already talking with investors interested in working with a company long on experience and short on debt.With the continued support of SNS Property Finance, a Dutch corporation; Caruso Homes’ Symphony Village has maintained its position as the most successful active adult community on Maryland's Eastern Shore. Mark Somerville, Caruso Homes’ vice president of land development noted that, “We are fortunate that out lender had the foresight to fund the completion of clubhouse the pools and all the roadwork for this 400 lot community, in Centerville Maryland. Our sales have continued and we are entering our final section of this successful community.”

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