Freestate Electric Grabs 22 More Acres in St. Chares Planned Community

WALDORF, MD- American Community Properties Trust (ACPT), developers of the 9,100-acre master-planned community St. Charles, has sold 32 acres of the community’s industrial property to Freestate Electric LLC, a Columbia Electric Corp. affiliate. Almost two years ago, ACPT sold Freestate 77 acres of the community’s Piney Reach Industrial Park for the building of a natural gas-driven electric plant. Plant construction is due to begin in the spring of this year. The location is near St. Charles’ third business park, Business Park South.

While ACPT and Freestate are not publicly releasing the financial details of the recent transaction, nor of the transaction in 2000, about 19 acres of industrial property in the area exchanged hands for $705,000 in June of 2001. Explaining the benefits of the Freestate sale, ACPT President and COO Edwin L. Kelly says, “This project is a winner for everybody, because it will help meet the future electric needs of homes and businesses across the region.”