The Carl M. Freeman Companies are pleased to announce the acquisition of the Benedikt family farm in Berkeley Springs, WV earlier today. This 168 acre farm was purchased from Gary Laue and his family. This land purchase will be an integral part of the plans the Freeman Companies have for the creation of an exciting new mountain community located in Morgan County, West Virginia.

Assemblage of the land for the new Coolfont community began in 2005. The property consisting of nearly 1,000 acres will be developed into an upscale mountain community with attractive amenities. There will be as many as 1200 homes built along the two greatly expanded lakes and numerous hiking trails throughout the project. A spa, kayak club, nature center and indoor/outdoor pools are just a few of the lifestyle elements that are planned for the residents and guests from the surrounding areas. A restaurant and a small hotel are also being considered.

Robert Marggraf, vice president and general manager of the West Virginia communities for the Freeman Companies, explained, “We are very excited to round out our land assemblage for the project and take this to the next step. Our current plans for development of the community involve a conservative approach and maintain much of the green space and natural beauty of the property. We will only be developing about 40% of the 994 acres and preserving the ridgelines and much of the natural tree canopy”.

The Freeman Companies held a charrette in September of 2006 inviting the Berkeley Springs community to participate and provide insight into what types of elements and amenities they would like to see in the project. Community involvement and participation have always part of the Freeman philosophy and a key to each of the developments we have built in the last 60 years.

The Freeman Companies have developed a number of residential communities in the Mid-Atlantic including Sea Colony, Bear Trap Dunes and Bayside in Sussex County Delaware and have recently undertaken the development of Potomac Towne Center, a large lifestyle shopping and entertainment center in Jefferson County, West Virginia.

Frank Edwards, president of the Freeman Companies explained, “We have been following the expanding market in the Eastern Panhandle of West Virginia and we see our projects in Morgan County and Jefferson County as a logical step in the expansion plans we are launching.”

The new Coolfont community is currently in the planning and permitting stages and The Freeman Companies anticipate completing this process in 2008 and beginning development in 2009. Carl M. Freeman Companies continues to build a reputation for strengthening community values, building business, enhancing asset value, building relationships and building community.