East West Communities purchased Hallsley in January of 2013. At that time, the previous developer was not financially able to continue the project. East West purchased approximately 656 homesites with no amenities in place. At completion, Hallsley will have 796 homesites and over $4.5 million in amenities.
Below is a timeline for the Hallsley sales pace since East West Communities took over the property’s development:
Hallsley Sales Timeline
2013: 67 new home sales
2014: 103 new home sales
2015: 167 new home sales
2016: 125 new home sales
2017: 91 new home sales
Hallsley has exceeded sales projections and is expected to sell out of new home inventory in the next 18 months. There are approximately 150 new home opportunities left in Hallsley. According to Integra Realty Resource’s annual real estate report issued in February of 2017, Hallsley closed more new homes and issued more building permits than any other community in Central Virginia for the 2016 calendar year. Hallsley also sold half of the new homes in Central Virginia that sold for $1 Million or more that same year. In 2017, the average priced new home in Hallsley sold for $696,000.
East West Communities is constantly looking for new land opportunities for community development. Hallsley had the essential elements East West looks for when developing a new community – convenient location, good schools, undisturbed tree coverage, generously sized and zoned homesites, and a good landplan. What it needed was:
- financial backing to develop the remaining lots
- to immediately build an amenity with unique appeal for the market
- a preferred builder program
- an aggressive marketing plan
In addition to the above, Hallsley’s established custom homes were architecturally diverse with standards that set them apart from other new home communities in Richmond. The existing homes in Hallsley featured a mix of stone, cement board, and stucco siding – no vinyl siding was or is allowed. These new custom homes replicated older, historic neighborhoods of Richmond. The streetscape where existing homes had been built was attractive and charming. It felt right.
East West Communities’ mission is to create an extraordinary quality of life for the residents who purchase and live in their neighborhoods. Inspired by a foundation of achievement, experience, and creativity, they endeavor to stay on the leading edge of development, shaping superior communities with innovative, resort-style amenities. They are committed to environmental stewardship and introducing industry-leading standards to preserve nature for the enjoyment of generations to come. For more than four decades, East West Communities works together to bring to life America’s best places to live and play.