BRAC Match Program Extends to Coldwater Reserve

The State of Maryland’s BRAC (Federal Base Realignment and Closure) Match Program, enabling eligible BRAC homebuyers to receive down payment and closing cost assistance, includes buyers at Coldwater Reserve, a new single-family home community located in Severn, Md. adjacent to the Severn Run State Park and Fort George G. Meade, according to W. Dennis Gilligan, president and CEO of Craftsmen Developers, developer of the community.

The BRAC Match Program provides $2,500 in down payment and closing cost assistance to relocating military and civilian federal employees. It is part of the Maryland Mortgage Program, the State’s flagship mortgage assistance program. Information about the BRAC Match Program, including qualification and application information is available at http://www.mmprogram.com.

Coldwater Reserve is convenient to Fort Meade, making the community an attractive location for those who relocate to Maryland as part of BRAC which is bringing additional jobs to the region in the coming years.  When completed in the spring of 2011, the first phase of Coldwater Reserve will consist of 50 homes. A second phase, to begin construction when the second phase is complete, will have 67 homes.

Craftsmen Developers is partnering on the project with Mandrin Homes, Pasadena, Md., and Saybrook Community Capital, Santa Monica, Calif., a private investment management company that invests in the acquisition and development of residential land for homebuilding companies.

As one of the first land development firms in the U.S. to secure the 4-star Green Land Development Certification designation for a project (Wharton’s Bluff, Millsboro, Del.), Craftsmen Developers will pursue a green designation for Coldwater Reserve as well, working closely with Mandrin Homes, which developed the first National Association of Home Builders Green-Certified Community in Maryland, and has built more NAHB-certified green homes than any other home builder in Maryland.