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Quad State Business Journal - Cool Resort
November 1, 2007 - Olney, MD

The Carl M. Freeman Companies, the Olney, Md., developer of Coolfont Resort in Berkeley Springs, acquired the nearby 168-acre Benedikt family farm to add to its holdings.


The Coolfont property, consisting of nearly 1,000 acres, will be developed into an upscale mountain community with as many as 1,200 homes built along the two expanded lakes and hiking trails. A restaurant and a small hotel are also being considered for the resort.


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


The new Coolfont community is currently in the planning and permitting stages. The Freeman Companies anticipate completing this process in 2008, and beginning development in 2009.


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Established in 1947, the Carl M. Freeman Companies are the successful developers and managers of award-winning resort communities, golf courses and neighborhood shopping centers. They also own and operate the Historic Tidewater Inn, several restaurants and businesses engaged in providing real estate brokerage, management, mortgage banking and settlement services throughout the Mid-Atlantic.

Building Community Since 1947


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