Parcels offered in sealed bid procedure

April 14, 1996

Washington Homes Inc. is selling finished building lots in 20 of its Baltimore/Washington area communities through a sealed bid process.

The program, called "Builder-OPP '96," is geared toward small- and medium-volume builders.

Geaton DeCesaris Jr., the company's president, said the lots are in subdivisions where Washington Homes had sold nearly all the houses, but had some parcels left.

Catalogs have been compiled describing each of the properties. MNC Mortgage and Key Federal Savings Bank have committed funds for acquisition and construction financing, according to Jeff Ludwig of the Michael Companies, which is handling the sale.

Builders can obtain information by calling Mr. Ludwig at (301) 918-2924. The bids will be opened April 30.

Lots in the Baltimore area include a dozen at McDonough Run and one in Owings Meadows, both Owings Mills communities.

Most of the available lots are in the Washington, D.C., suburbs and Southern Maryland.

In the quarter ended Jan. 31, Washington Homes earned $385,000 on revenues of $34.9 million.

Pub Date: 4/14/96

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